Kuwait, a country with an economy highly dependent on oil, with the sector accounting for 40% of its GDP and about 9% of export revenues, has announced plans to build the world’s largest petroleum research center by the end of 2022. On Wednesday, the oil ministry announced that the center, to be built in al-Ahmadi, south of Kuwait City, will constitute 28 laboratories.
The center will develop new ways to improve production and refining techniques that the industry can employ for various use cases, including heavy crude and non-associated gas extraction.
The project, which was stalled earlier, will cost nearly $120 million.
The research center aims to bolster Kuwait’s production capacity and ensure extra financial inflows to its economy as Gulf Arab countries focus on diversifying their economies and increasing investment in greener, alternative energy sources.
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