Kuwait soon to boost crude oil production with offshore drilling project
Kuwait is planning to start an offshore drilling project soon to boost its crude oil production.
The planning chief at Kuwait Oil Company (KOC) Bader Al-Attar said this during a symposium organized by the Kuwait Ministry of Oil on Wednesday, as reported by the Kuwait News Agency, KUNA.
“The company will start offshore discovery and digging within a couple of years’ time,” Al-Attar was quoted as saying.
Al-Attar was further quoted explaining that KOC was aiming to increase its crude production by 700,000 barrels per day (bpd), from both offshore and onshore areas.
The KOC official did not provide any details as to which offshore areas the company plans to explore and drill.
Kuwait produces most of its oil from onshore fields, hovewer, the oil rich OPEC member also pumps crude from an offshore Neutral Zone, which comprises four oil fields Khafji, Hout, Lulu and Dorra, in cooperation with Saudi Aramco’s subsidiary, Aramco Gulf Operations Company (AGOC).
According to OPEC, Kuwait crude oil prdouction is 2,867,000 b/d, including share of production from the Neutral Zone.
Kuwait’s proven crude oil reserves are estimated at 101,500 million barrels.
Offshore Energy Today Staff