No extra oil shipments ordered from Europe: head of Kuwaiti oil company
Friday, 24 February 2012 | 11:00
Kuwait Petroleum Corporation’s CEO, Farouq al-Zanki, has said that his country did not receive any orders for extra oil from
Europe following the sanctions imposed by it on Iran, according to an interview with Al Arabiya.
He added that Kuwait is currently producing an average of 3 million barrels per day (mpbd) and does not foresee a further increase in the production in the short-term.
On the other hand, Kuwait’s Oil Company’s CEO, Sami al-Rusheid, reaffirmed the country’s full capacity of oil production as being 3.3 mbpd.
Rusheid broke down this full capacity to the following: 700kbpd from the northern fields, 1.72 mbpd from Burghan field, 530 thousand barrels per day (kbpd) from the western fields and 50 kbpd in condensates and light oil associated with gas production, plus the production from Divided Zone.
The current production in the Divided Zone amounts to 270 to 300 kbpd according to the CEO of the Kuwait Gulf Oil Company, which represents Kuwait in the Divided Zone with Saudi Arabia, Hashim al-Rifaei.
Rusheid also highlighted Kuwait’s plan to increase full oil production capacity to 4 mbpd by 2020 and maintain this capacity to 2030, relying on increasing heavy oil production in the north and enhanced recovery specifically in the Giant field of Burghan, the second biggest onshore field in the world after Al Ghawar field in Saudi.
As for Kuwait’s non-associated natural gas production, Rusheid spoke about Kuwait’s commitment to increase this from the current 140 thousand cubic feet per day (mcfd) to 600 mcfd by 2014 and finally to 1 bcfd in 2017.
There are no comments available.