Kuwait to hit four million barrels per day by 2020

barrels-A is for Angie flickrThe target is expected to be reached mostly by development plans in North Kuwait with some developments in the divided zone as well. (Image source: A is for Angie/Flickr)Kuwait Oil Company (KOC), a subsidiary of the government-owned Kuwait Petroleum Company, has set a target of four million barrels per day (bpd) by the year 2020

The country’s current capacity is almost three million bpd with an additional 200,000 bpd produced from the divided zone shared with Saudi Arabia. The target is expected to be reached mostly by development plans in North Kuwait, with some developments also in the divided zone.

Sami al-Rushaid, managing director of KOC said, "To achieve the four million target, we aim to produce 3.65mn bpd from Kuwait and 350,000 bpd from the divided zone.

"Some of the increase will come from the development of heavy oil, we are planning to produce 60,000 bpd of heavy oil by 2017 and 2018, but some will also come from the Jurassic light oil which is coming out with gas. We expect to produce around 400,000 bpd of light oil from the Jurassic by 2020."

al-Rushaid also said that the company plans to set the production capacity plateau at four million bpd from 2020 to 2030.

“Generally speaking, what we will be seeing from 2020 to 2030 will be more of what we call the unconventional, heavy oil and Jurassic light oil,” he explained.

 

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