Middle East

Kuwait

Kuwait is a key Opec producer, with capacity touching 3mn b/d, but is dependent on LNG imports. A fractious political system continues to bedevil ambitious plans to increase production capacity.

State of Play

Kuwait has acknowledged defeat on its bid to increase production capacity to 4mn b/d by 2020. The cornerstone of this was Kuwait Oil Company’s 3.65mn b/d target, but in late-2018 this was pushed back to at least 2023. The next planned milestone is the mid-2019 start of the Lower Fars Phase One Heavy Oil development. A new team at the top will have to contend with an increasingly agitative parliament.

2019 In Numbers
Crude Output 2.75 mn b/d
Crude Exports 2.05 mn b/d
Gas Output 18 bcm
Oil & Gas export revenue 66 $bn
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SELECTED DATA

1: Kuwait Peak Load (Gw) Hit A New Record High In June 2019

2: Kuwait's Power Plants At Sabiya And Az Zour Accounted For The Bulk Of Generation Throughout 2019 (GWH)

Kuwait LNG Imports (Mn T/Y) Have Dipped From Their 2017 High, While Qatar's Market Share Dominance Has Been Eroded

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