abstract:Project Kuwait is a $7 billion, 25-year plan, first formulated in 1997 by the SPC, to increase the country's oil production (and to help compensate for declines at the mature Burgan field), with the help of international oil companies. In particular, Kuwait aims to increase output at five northern oil fields—Abdali, Bahra, Ratqa, Raudhatain, and Sabriya (Kuwait's third largest field) -- from their current rate of around 650,000 bbl/d to 900,000 bbl/d within three years.
Another sore point was ProjectKuwait, a government-backed initiative to lure foreign companies into the oil sector, which has been delayed for years by the fierce objections of many elected lawmakers.