Kuwait committed to OPEC output cut deal

Kuwait produces 3.15 million bpd a day: KOC

KUWAIT: Kuwait’s crude output stands at 3.15 million barrels per day (bpd) at present, and the country is fully committed to the production ceiling set by OPEC, a senior official in the oil industry said yesterday. Deputy CEO of the Kuwait Oil Company (KOC) Ismail Abdullah Abdul made the statement on the sidelines of the Kuwait 3rd Flow Measurement Technology for Oil and Gas Conference.

The theme of the conference is crucial to the industry, he added. Representatives of 30 local and international companies are taking part in the conference among more than 300 participants. Several companies specialized in oil and gas measurement equipment are participating in the exhibition held on the sidelines of the event.

According to the KOC official, oil and gas measurement is an essential issue not only in Kuwait but in the Gulf region that produces up to one third of the world’s output of the crude. He referred to KOC’s strategic plans to increase daily production to 4 million bpd by 2030.

Earlier yesterday, he addressed the opening of the conference and stressed KOC’s eagerness to remain as distinctive and as leading as ever as, keeping pace with the latest technology and best practices of exploration and production.

The company has launched several initiatives at home and overseas for the exchange of knowledge and expertise, he said. This conference is the latest example, attended by fellow subsidiaries of the Kuwait Petroleum Corporation (KPC). The three-day event focuses on the practical applications and studies and researches on measurement of oil and gas, he said, voicing admiration of the rich local and foreign papers submitted for discussion. – KUNA

This article was published on 19/11/2017