KOC Plan to Raise Production Capability in Kuwait

Chairman and Managing Director of the Kuwait Oil Company (KOC), Sami Al-Rasheed said the company is on track to raise the productive capacity of the Kuwaiti oil fields to 4 million bpd by 2020. Al-Rasheed said on the sidelines of Ninth Middle East Conference for Geological Sciences (GEO 2010) that the company is in the process of implementing many projects to increase capacity by the construction of new facilities and laying pipelines to transport oil and gas.

He said the company's plan also includes a focus on increasing the production of non-associated gas of up to 1 Bscf/d by 2015, pointing out that Kuwait's oil production is currently about 3 million bpd in addition to 140 Mscf/d of non-associated gas, affirming Kuwait's ability to commit to its share in the (OPEC) which is 2.2 million bpd. KOC Chairman expected demand for oil to rise over the coming period, especially since many of the world countries started to recover from the consequences of global economic crisis. –Argaam