Free Republic

Kuwaiti oil production from the world's second-largest field is ``exhausted'' and falling after almost six decades of pumping, forcing the government to increase spending on new deposits, the chairman of the state oil company said. The plateau in output from the Burgan field will be about 1.7 million barrels a day, rather than as much as the 2 million a day that engineers had forecast could be maintained for the rest of the field's 30 to 40 years of life, said Farouk al-Zanki, the chairman of state-owned Kuwait Oil Co. Kuwait will spend about $3 billion a year for the...