conference overview

REAL ACCESSIBLE BUSINESS OPPORTUNITIES

Oil Industry

Gas Industry

Petrochemicals Industry

The GCC is projected to be a US $ 2 trillion economy in 2020, providing nearly a quarter of the world's oil supplies

GPCE 2012

The GPCE 2012 is an opportunity to interact with prominent members of the petroleum industry in Kuwait and the GCC countries, as well as with some of the key decision and policy-makers in this vital sector. Extended Official Support

The GPCE 2012 is supported by the local authorities such as Kuwait Petroleum Corporation (KPC), as well as regional and global authorities including OPEC, OAPEC and the IEA. This support is augmented by the presence and participation of these organizations, as well as by exhibitors at this important event.

Kuwait holds 10% of the world's oil reserves

Expenditure in Kuwait poised to reach US$ 4 billion

This year's conference will focus on Kuwait, as one of the world's most crucial oil suppliers. Kuwait is planing to increase its oil production by 350,000 b/d over the next 5 years reaching total production of 3.5 million b/d. "We are at an output capacity of 3.15 million b/d today, and we intend to push to reach our target of 3.5 million b/d by 2015," Stated by a high official in Kuwait Oil Company (KOC).

Kuwait sets new output target of 3.5 million b/d

Under the new plan, the government expenditure for oil development was set at some KD 15.6 billion or just under half of the overall state budget.