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Kuwait, which is targeting oil production capacity of 4mn b/d by the end of the decade, plans to invite bids from international oil companies (IOCs) for enhanced technical service agreements (ETSAs) to develop its heavy oil fields, boost recovery from its ageing reservoirs and help with development of non-associated gas reserves.
Kuwait is currently producing 2.85mn b/d of crude oil a day and is making up for the decline in production from the Neutral Zone shared with Saudi Arabia by boosting output from other fields operated by Kuwait Oil Company (KOC), a senior Kuwaiti oil source tells MEES. This is up from a February average of 2.79mn b/d, according to MEES estimates (MEES, 6 March). (CONTINUED - 1112 WORDS)