KOC to build heavy crude extracting facilities

(MENAFN) Kuwait Oil Company (KOC) is planning to float a tender through one of its units to construct heavy crude extractinon facilities, The Peninsula Qatar reported. The planned facilities, which will cost around USD4.2 billion, are part of the company's plan to boost the country's production up from 3 million barrels per day (bpd) to 4 million bpd by the end of the decade. The chief executive of Petrochemical Industries Co. (PIC) said that there are plans to build a refinery and a petrochemicals facility to increase the project's income.