Kuwait may renegotiate oil production contracts — minister

World July 06, 2023, 18:56

Saad Hamad Al Barrak pointed out that the state was looking to develop its energy market to the maximum

VIENNA, July 6. /TASS/. Kuwait does not rule out the possibility of revising the country's oil production contracts to make them more attractive, Deputy Prime Minister and Oil Minister Saad Hamad Al Barrak told reporters on the sidelines of the OPEC International Seminar.

The country plans to invest over $300 bln into the energy sector by 2040, the official said earlier.

"Probably," Al Barrak said, responding to a question about the possibility of amendments to contracts.

Kuwait is exploring possible sources for such investments, the deputy prime minister noted.

"We are looking to develop our energy market to the maximum," he stressed.

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