Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Kuwait Oil Company (KOC), the onshore upstream subsidiary of Kuwait Petroleum Corporation (KPC) has awarded $2.3bn in contracts to three separate companies to build new crude gathering centers. Kuwait currently has 26 gathering centers.
The awards appear part of a $15bn plan to invest in conventional oil production in North Kuwait (as opposed to the heavy oil projects also planned for North Kuwait) through 2020, outlined this week in a letter sent to MEES by KOC CEO Hashim Hashim.
KOC plans to increase total onshore production capacity to 3.65mn b/d by 2020, a figure that reaches 4mn b/d if output from the Neutral Zone shared with Saudi Arabia is included. A large chunk of the increment will come from three North Kuwait conventional developments, which will push production capacity in the region to 1mn b/d, according to Mr Hashim. This represents a 300,000 b/d boost over current capacity in the region. (CONTINUED - 269 WORDS)