Kuwait to focus on gas, condensates
KUWAIT CITY, April 11, 2016 – Kuwait aims to add 165,000 bopd to its current production levels of 3 million bopd by 2017, Kuwait Petroleum Corporation CEO Nizar Al Adsani said on Monday. Speaking at the 4th Kuwait Oil & Gas Summit, Adsani reiterated that the country hopes to hit 4 million bopd by 2020.
In his speech, Adsani touched upon the construction of oil-gathering centres, gas development and an offshore exploration campaign. “The future focus will be on Jurassic gas,” he said, noting that Kuwait’s targeted 2020 production volume would consist of oil and condensate. By 2022, the country hopes to have added 300,000 barrels of condensate and 28.3 mcm (1 bcf) of natural gas per day.
Adsani also said four early production facilities would be built in Kuwait, with contracts for three already awarded. Expecting to process output from newly discovered fields, Kuwait Petroleum Corporation is currently seeking bids for the fourth, a 120,000-bopd facility.
While delayed, a new offshore exploration campaign is still in the cards. “Our plan was to start in 2016, but we are a little delayed. We will start by March or April next year,” Adsani told the audience, adding, “We have finished the data interpretation and are trying to locate where to drill […] we have six locations to start delineation in 2017.”
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