Kuwait oil production hits 2.75 million bpd

KUWAIT: Kuwait’s total oil production has reached around 2.75 million barrels per day (bpd), CEO of Kuwait Oil Company (KOC) Jamal Jaafar said yesterday. In a statement to the press on the sidelines of Kuwait’s International Health Safety and Environment (KIHSE) Conference and Exhibition, Jaafar underscored Kuwait’s commitment to an OPEC deal to cut oil output, which has no bearing on production.

On Kuwait’s production of natural gas, he revealed that free gas output totals out to be 180 million cubic feet per day, while production of associated gas is at 40 million cubic feet per day for every 100,000 barrels. The KOC official noted that the company is eyeing a boom in natural gas production to around 800 or 900 million cubic feet per day, adding that KOC’s production capacity amounts to 3.1 million bpd. Moreover, Jaafar said that the company has launched a plethora of monumental projects that aim to ratchet up production capacity, all of which are environment-friendly.

On a related note, Minister of Oil Essam Al-Marzouq said on Wednesday that free gas production remains one of Kuwait Petroleum Corporation’s (KPC) top priorities. Speaking to journalists on the sidelines of the KIHSE conference, the Minister of Oil said that KOC will consider an offer on Monday dealing with measures to expedite free gas production, adding that plans are in the works to privatize oil projects. Meanwhile, Al-Marzouq’s Omani counterpart Dr. Mohammad Al-Ramhi, who was in attendance at the conference, said that OPEC’s decision to reduce oil production is a measure to protect consumers. – KUNA

This article was published on 16/02/2017