Koc Strategic Projects Will Raise Production Capacity To 3.2 Million Barrels Per Day By 2025

The Kuwait Petroleum Corporation (KPC) Chief Executive Officer (CEO) Hashem Hashem, said the Kuwait Oil Company (KOC) is implementing a number of strategic projects that will have a direct impact on the increase in production capacity in the near future, in preparation for the gradual increase to 3.2 million barrels per day of sustainable crude oil production in 2025.

Hashem told KUNA what has been published about the decrease in the KOC production capacity over the past years gives an incomplete picture of the performance of the oil sector in general and the performance of the Kuwait Oil Company in particular.

He stressed the KOC harnesses all capabilities to achieve the target production capacity, and pointed to the company’s success during the new Corona pandemic in operating the heavy oil project and acquiring the target production capacity of 60,000 barrels per day last September.

Quoting Hashem, the Al-Rai daily said, there is 500,000 barrels per day of additional production capacity that will enter service upon completion of the projects, drilling and well maintenance plans being implemented during this year and the next, noting that the divided zone will add 350,000 barrels per day, bringing the total production capacity of the State of Kuwait to 3.5 million barrels of oil per day.

He added that the most important of these projects is a project to operate two new gathering centers in the north and south-east of Kuwait, in addition to developing and modernizing a number of gathering centers and a project to add facilities to deal with water associated with crude oil production.

He stressed the operations in the divided area based on the agreement between the Kuwaiti and Saudi partners are progressing at an “encouraging pace”, as a number of plans were agreed upon in both the Al-Khafji Joint Operations Area and the Joint Wafra Operations Area, where the KOC is working to raise production capacity during 2022 to levels exceeding what it was before closure.

 

SOURCE  :    TIMES KUWAIT

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