Kuwait is on track to meet its 2035 target of achieving 4mn b/d crude oil production capacity, Oil Minister Tariq al-Roumi says. Speaking to Kuwait’s al-Qabas on 19 September, the minister says capacity currently stands at 3.2mn b/d, up from 3mn b/d at the start of the year. The additions come from Kuwait Oil Company’s (KOC) operations and from Kuwait’s 50% share in the Partitioned Neutral Zone (PNZ) managed jointly with Saudi Arabia.
The country’s oil sector is managed by KOC’s parent firm Kuwait Petroleum Corporation (KPC), whose CEO Sheikh Nawaf Al Sabah told MEES in July that capacity was closing in on 3.2mn b/d (MEES, 18 July). Having achieved this mark, capacity now stands at its highest level since 2011’s 3.26mn b/d. It has increased by a substantial 470,000 b/d since its low-water mark of 2.73mn b/d in 2021 thanks to a combination of KOC gains and gradual increases from the PNZ following its restart in 2020. (CONTINUED - 1011 WORDS)
