By: Ahmad Awad

Kuwait-Mubasher: The low oil prices would remain in decline for a long time, affecting oil industry in the future, said CEO of Kuwait Petroleum Corporation (KPC) Nizar Mohammad Al-Adsani.

The CEO noted, during the Energy Strategy Forum held in Kuwait, that KPC is working with several international associations for financing oil projects in Kuwait, aiming to finance the projects through sukuk and bonds.

Al-Adsani clarified on Tuesday that the investment spending on oil and gas exploration and production in Kuwait is expected to decrease by 20% in 2015 as compared to 2014 in which the spending stood at $850 billion.