Mubasher: The Kuwait Petroleum Corporation (KPC) is looking to boost the Kuwait Oil Company’s (KOC) crude oil production capacity to 3.38 million barrels per day (bpd) in fiscal year 2018/2019, sources familiar with the matter have said on Monday.
This increase will be implemented by operating four production facilities, four fresh crude oil treatment stations, in addition to ramping up drilling activities and raising the number of rigs to 180, marking the Arab nation’s all-time high level, the sources told Al Anbaa newspaper.
By FY 2020/2021, Kuwait’s crude oil production capacity is expected to reach 3.65 million bpd, while free gas output capacity will amount to 510 million cubic feet (Mcf) after hitting 440 Mcf this year.
In the same vein, Kuwait’s oil exports stand at 2.1 million bpd, while the GCC nation’s oil production reaches 2.7 million bpd, which is in line with the agreement taken by members and non-members of the Organization of Petroleum Exporting Countries (OPEC).
