Kuwait Upstream Chief Confident On 2020 Target – MEES Interview

Kuwait Oil Company CEO Jamal Jaafar spoke exclusively to MEES on the sidelines of this week’s CWC Kuwait Oil and Gas conference. He unveiled plans for a new contract model for offshore development and how Kuwait aims to increase production without breaching Opec obligations.

Q: How are things progressing towards the 3.65mn b/d production capacity target? A lot of the gains appear slated to come from heavy crude and sour reservoirs?

A: It’s a mix. The amount of oil that we produce depends on how much we can sell. And this of course depends on what [parent company] KPC wants us to do.

But the 3.65mn b/d target which we have to achieve by 2020 is primarily from the KEC [Kuwait Export Crude] type of crude reserves, which is around 33°API. And this is what KPC is committed to sell. Now part of the 3.65mn b/d will come from the newly commissioned facilities of the heavy oil, and by the middle of next year we should be able to produce around 80,000 b/d. (CONTINUED - 1163 WORDS)