Kuwait to invest $ 120 bln in oil industry next 5 years

Baku. 20 April. REPORT.AZ/ Kuwait plans to invest 120 bln USD in oil industry in the next 5 years.

Report informs citing the RIA Novosti, Kuwait oil minister Essam al-Marzouq said.

The minister noted that, Kuwait has accepted a program on investment of up to 120 bln USD in oil industry by 2020 and this plan is valid: “Currently, 30% of the funds will be invested in next 3 years, while the remaining 70% of the investment planned to be invested”.

Al- Marzouq also noted that the other 6 Persian Gulf countries are interested in development of crude oil refining.