Kuwait Prepares for Sell-Off

The bidding for Kuwait's northern oilfields is set to begin in the second half of 2004, according to Kuwait Oil Company (KOC).

The details of the controversial, multi-billion-dollar project have not yet been finalized but have progressed to an advanced stage, according to the company.

All necessary approvals are expected to be obtained and the bidding process will commence some time in the second half of 2004.