American company develops 3 oil fields in Kuwait
Kuwait, Business, 11/12/1997

Kuwaiti Minister of Oil Eissa Al Mezedi stated that the US Chevron company will develop three Kuwaiti oil fields in the northern region. The US company expressed its readiness to develop any other field using the most advanced technologies.

Answering a question by the member of parliament Abdalla Al Nebary, Al Mezedi said that this offer will increase the output of the three fields to their maximum capacity with capitals of between $5 and $9 billion.

Al Mezedy clarified that the Kuwaiti Oil Establishment's financial plans do not allow entering into any agreement with foreign company to share in production, but he added that this issue is under study.

The Kuwaiti Oil Establishment had reached an agreement with the British Oil Company through which the latter will offer training in the oil field. The two agreements with the US and the British companies are worth 36 million Kuwaiti dinars, and they were reached without any mediation.

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