Kuwait to Raise Production to 4 MMBBL/D by 2040
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.
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.
Launching production in northern Kuwaiti oilfields could cost $360 million with Kuwait Oil Company (KOC) expected to award the contract before November.
Kuwait Oil Company (KOC) has pre-qualified 17 international companies to bid for a project to increase natural gas production in its northern fields.
The Kuwait Oil Company (KOC) has signed contracts worth $1.3 billion to buy over 86 drilling rigs.
Kuwait will continue its crude oil production, exploration and supply to the domestic market despite suffering from torrential rainfalls.
Abu Dhabi’s National Petroleum Construction Company (NPCC) has won a $231-million engineering, procurement and construction (EPC) contract to install new desalter trains for the Kuwait Oil Company (KOC).
Global oil demand will increase 1.5 million barrels per day (b/d) next year, Kuwait’s Oil Minister, Bakheet El Rashidi, predicted.