Kuwait will produce its first batch of 60,000 barrels of heavy oil a day by 2018, Minister of Oil and Minister of State for National Assembly Affairs Dr. Ali Al-Omair announced.
This remark was made during today’s National Assembly session that tackled the country’s development plan for the years 2015/2016 and 2019/2020.
The production of heavy oil will be ramped up to 270,000 b/d by 2030. Heavy oil production is one of the major projects that are being tackled by the country and “we intend to make the most out of it,” the minister stressed.
This vital project will involve constructing four heavy oil reservoirs which will produce 300,000 barrels and will be transferred to the new Al-Zour plant.
Recently, Kuwait Oil Company (KOC), a subsidiary of Kuwait’s national oil company “Kuwait Petroleum Corporation” (KPC), signed a contract to develop the country’s Ratqa heavy oil field.
Source: Hellenic Shipping News
