KPC head: Kuwait looks for oil, gas acquisitions abroad

Nizar al-Adsani speaks at the Petroleum Economist GCC Energy Strategy Forum in Kuwait City on January 25, 2017. (AFP)

Kuwait aims to increase its oil and gas production and reserves through acquisitions of assets abroad as well as expanding its exploration efforts at home, the head of Kuwait Petroleum Corp said on Monday.

KPC’s Chief Executive Officer Nizar al-Adsani also said that while Asia would remain the focus for Kuwaiti oil exports, the national oil company was also keeping an eye on the African market for possible acquisitions.

“We have started working with financial institutions to achieve strategic partnerships to find the optimum solutions to finance our current and future projects,” Adsani told a news conference in Kuwait City.

Last Update: Wednesday, 20 May 2020 KSA 09:51 - GMT 06:51