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Kuwait Talking With Shell, Total, Exxon to Develop Heavy Oil

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May 12, 2010, 12:40 AM EDT

By Ayesha Daya

May 11 (Bloomberg) — Kuwait is talking with Royal Dutch Shell Plc, Total SA and Exxon Mobil Corp. to develop heavy-crude deposits, Sami al-Rushaid, chairman of state-run Kuwait Oil Co., said today.

Kuwait is seeking to produce 270,000 barrels a day from the heavy oil deposits, he said. Kuwait Oil plans to spend as much as 7 billion dinars in the next five years on projects, al- Rushaid said.

To contact the reporter on this story: Ayesha Daya in Dubai at [email protected]

To contact the editor responsible for this story: Shaji Mathew at [email protected]

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