KPC Aims to Increase Crude & Natural Gas Output

KPC Aims to Increase Crude & Natural Gas Output

Kuwait Petroleum Company (KPC) plans to raise crude oil output to 4 million barrels a day by 2020 and natural gas output to 1 billion cubic feet per day (bcf/d) by 2023, the CEO and Deputy Chairman of KPC, Nizar El Adsani, said in a speech at a conference in Kuwait City, according to the state-run Kuwait News Agency (KUNA).

El Adsani has previously called for higher oil production. In April 2016, noting that KPC’s production was approximately 3 million b/d, he outlined plans to increase production to 4 million b/d, Arab Times reported at the time.

In order to increase production, he said that the company plans to increase the number of its drilling rigs to 180 from the current 130 that it employs and will begin producing 60,000 b/d from the Fars Reservoir in the Rayqa oilfield in 2019, according to KUNA.

KPC plans to bring online new natural gas projects in 2018 that will increase production by 500 million cubic feet per day (mcf/d). With the addition of new production from Kuwait’s northern gas fields, production of natural should rise to 1 bcf/d by 2023, according to El Adsani, KUNA reports.

In September, Kuwait announced a tender for its Jurassic natural gas field. The company hopes to extract an additional 590 mcf/d of natural gas and 220,000 b/d of crude oil from the field, according to Platts.

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