Kuwait Presses Ahead With Development Plans, Eyes New Contract Model

Kuwait’s 4mn b/d 2020 target looks unattainable with Neutral Zone fields still offline. But plans for the rest of Kuwait to hit 3.65mn b/d are achievable. Longer term, a major planned Jurassic Gas facility is to be replaced with smaller modular plants.

Kuwait is investing heavily as it strives to achieve its near- and longer-term upstream production goals. Oil Minister Bakhit al-Rashidi emphasized plans to invest KD34bn ($113bn) over the next five years at the CWC Kuwait conference this week, 70% of which will be for the upstream.

Nizar al-Adsani, CEO of state firm Kuwait Petroleum Corporation (KPC) continues to assert that Kuwait can reach its 2020 target of 4mn b/d oil (crude and condensate) production capacity. Kuwait plans oil and gas “megaprojects” both domestically and overseas as part of plans to further boost output to 4.75mn b/d by 2040, he adds.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE