Kuwait eyes 4m bpd output in 2020
Kuwait, October 7, 2009
Kuwait aims to reach an oil production capacity of 4 million barrels per day (bpd) in 2020 and sustain it until 2030, its oil minister told Reuters on Wednesday.
"We did not delay, we still aim to reach 4 million barrels per day by 2020 and sustain it till 2030. This is our 2030 strategy," Sheikh Ahmad al-Abdullah al-Sabah said.
He was clarifying a statement he made on Tuesday that the Gulf Arab state had pushed back its oil output capacity target of 4 million bpd by 10 years to 2030, saying the delay was because of a lack of "technical know-how."
Opec-member Kuwait has said it will need help from oil majors to reach its output targets.
The Gulf state pumped 2.25 million bpd in September, according to the latest Reuters survey.
Kuwait, the world's fourth-largest oil exporter, has an output capacity of 3 million bpd. – Reuters