Kuwait Petroleum Corp to spend $340 billion

KUWAIT?: Kuwait Petroleum Corp. will spend around $90 billion over the next five years on its growth strategy, an offical said here on Tuesday.

Hashim al-Rifai, managing director of planning at KPC, said in total the company expects to spend $340 billion between now and 2030 on projects.

"On the oil sector capital programme, we are well on track and poised to spend around $90 billion in the coming five years that is going to mushroom to $340 billion over the 2030 plan period," he said.