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Al Omair: A capital expenditure of $ 100 Billion Dollars on oil industry over the five years
1/22/2015
 The Minister of Oil, State Minister for National Assembly Affairs Dr. Ali Al-Omair revealed the estimate capital expenditure on oil industry of about $ 100 billion over the next five years in achievement of the oil sector’s strategic directions.

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Sheikh Ahmed Al Jaber Al Sabah granted Kuwait Oil Limited Company with the participation of Protol British Company "BP" and American Oil Gulf Company "Gulf Oil" the right of franchise of concessionaire to explore oil in all Kuwait lands and territorial water for 75 year period and this was on 23rd December 1934.

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