KGOC Plans US$3.6bn Investment In The Neutral Zone

State-controlled Kuwait Gulf Oil Company (KGOC) has announced plans to invest US$3.6bn over five years to increase production from the Neutral Zone between Kuwait and Saudi Arabia. Kuwait is believed to hold an estimated 101.5bn barrels (bbl) of proven oil reserves, according to the June 2008 BP Statistical Review of World Energy, although some dispute this figure, which gives Kuwait an 8-9% share of the world's total oil reserves. The Saudi-Kuwaiti Neutral Zone holds a further 5bn bbl, half of which belong to Kuwait.

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