Kuwait’s state-owned Kuwait Oil Company (KOC) is spearheading Kuwait’s drive to hit production capacity of 4mn b/d by 2020, with a planned capital expenditure program of almost $10bn a year over the next six years, says the company’s CEO Sami al-Rushaid.
Kuwait intends to maintain the 4mn b/d plateau capacity for 10 years. KOC plans to raise its oil output from 3mn b/d to 3.65 mn b/d by 2020 and also will exponentially boost gas production capacity to 3.8bn cfd by 2030. Of this, 2.5bn will come from non-associated reservoirs, Mr Rushaid told delegates on 11 November at the ADIPEC 2012 conference in Abu Dhabi. Current Kuwaiti non-associated gas production, from the troubled Jurassic reservoir gas project in the Umm Niga and Sabriya fields, is languishing at around 150mn cfd. (CONTINUED - 844 WORDS)