(MENAFN- Kuwait News Agency (KUNA)) By Osama Jalal KUWAIT, March 7 (KUNA) -- Kuwait Foreign Petroleum Exploration Company (KUFPEC) is planning to raise its production by 150,000 barrels per day by 2020, said the company Chief Executive Officer on Wednesday.
Sheikh Nawaf Al-Sabah indicated at key projects, namely White Aston in Australia for producing natural gas and investment in shale oil and condensates in Canada's Alberta.
A KUPEC statement said that Sheikh Nawaf was speaking during a seminar as part of the annual "Sierra week," held in Huston, the US.
The company, through such ventures, is seeking to increase its production, he said.
Meanwhile, Nabil Bouresli, the CEO at Kuwait Petroleum International (KPI), also in a statement at the event, underscored KUFPEC's success in its partnership with companies in Europe, Oman and Vietnam.
Markets in Asia and the Middle East are promising, amid mounting demand for petroleum derivatives, he has affirmed.
Other eminent Kuwaiti attendees in the seminar was Minister of Oil, Electricity and Water Bakhit Al-Rashidi, leaders from the oil sector, in addition to oil executives from Indonesia, Colombia and India. (end) osj.rk
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