Kuwait to Raise Production to 4 MMBBL/D by 2040

Kuwait to Raise Production to 4 MMBBL/D by 2040
KUWAIT – JANUARY 15: A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait. Kuwait produces 10% of the worlds oil and has promised to increase production as needed in the event of a war in Iraq. (Photo by Joe Raedle/Getty Images)

Kuwait commenced operations in the country’s largest heavy oil project, located in the north, under the framework of raising its production capacity to 4 million barrels per day (mmbbl/d) by 2040, the National reported.

Kuwait Oil Company (KOC) neither specified which field would be developed nor provided any further details.

On the other hand, Al-Ratqa field has always been in mind and ready for development. It was contracted to Petrofac in 2015 with an investment of $4.2 billion. In addition to this, the field is expected to increase oil production to 60,000 barrels per day (bbl/d) in its first phase.

Furthermore, located in the Neutral Zone are the Wafra and Khafji fields which are rich with heavy and sour crude oil. Their combined output is expected to reach a capacity of 500,000 bbl/d by the end of 2020.

Moreover, Kuwait’s additional heavy oil output will be poured into the country’s planned 615,000 bbl/d Al Zour refinery; the largest refinery in the Middle East when completed.

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