Mubasher: The board members of the Kuwait Petroleum Corporation (KPC) has approved the plan presented by Kuwait Oil Company (KOC) for Strategy 2040, Al Rai Newspaper said, according to well-informed sources.

This strategy aims to produce 4.25 million barrels per day (bpd), Al Rai said, adding that KOC will receive the bids for six drillers included in the offshore drilling process which has a total cost of nearly KWD 900 million by mid-April.

Evaluating and awarding the bids will complete in 15 days, while the remaining procedures will be completed later, the sources told Al Rai.