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.

2020 In Numbers

Crude Output	2.42	mn b/d
Crude Exports	1.87	mn b/d
Refining capacity	0.736	mn b/d
Oil & Gas export revenue	36.2	$bn
Oil Rig Count	31	-

Oil & Gas

19 Nov, 2021

Featured

KOC Awards Key Jurassic Phase 3 Contracts

Kuwait’s latest awards will add 100,000 b/d oil and 300mn cfd gas by 2024. But more projects and investment are needed for Kuwait to hit overall output targets.