Kuwait to boost north fields output by 2015
Kuwait, January 27, 2010
Kuwait aims to raise its oil output plan from the northern fields to 1 million barrels per day (bpd) by 2015, an oil official said in published remarks on Wednesday.
The Opec country is currently pumping about 650,000 bpd of oil, and 500 million cubic feet of associated gas per day from the northern fields, Hosnia Hashim, an executive in charge of North Kuwait for state-owned Kuwait Oil Company (KOC), said in daily al-Seyassah.
KOC is working on a new project in the north to boost production capacity from the offshore area to 500,000 bpd, and 400,000 bpd from the onshore by 2014-15, by using water injection, Hashim said. However, she did not provide details on current output from both areas.
Kuwait, the world's fourth-largest oil exporter, has a long-term target to boost its output to 4 million barrel per day by 2020, from around 3 million bpd now.
Kuwait pumped 2.28 million bpd of crude in December, according to a Reuters survey.