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	2.67	mn b/d
Crude Exports	1.99	mn b/d
Gas Output	1.69	mn cfd
Gas Imports	0.44	mn cfd

Oil & Gas

5 Feb, 2021

Featured

Kuwait Cuts Long Term Targets For Giant Burgan Field

Kuwait's Burgan is the world's second largest oilfield but capacity has dropped from its previous heights. Now state firm KOC has cut its long-term plateau target for the field from 1.7mn b/d to 1.5mn b/d as it shifts to prioritizing margins over volume.