Kuwaiti Oil Barrel Price71.29 Date:02-12-2021

News
& Events

Kuwait (Petroleum): The strategic projects of the Kuwait Oil Company will raise production

22-10-2021

The CEO of the Kuwait Petroleum Corporation, Hashem Hashem, said that the Kuwait Oil Company is implementing a number of strategic projects that will have a direct impact on increasing production capacity during the coming period, in preparation for the gradual arrival of 3.2 million barrels per day of sustainable production capacity for crude oil in 2025. Hashem told Kuwait News Agency (KUNA) today, Friday, that what is being circulated about the decrease in the production capacity of the Kuwait Oil Company over the previous years gives an incomplete picture of the performance of the oil sector in general and the performance of the Kuwait Oil Company in particular. He stressed that the Kuwait Oil Company harnesses all capabilities to achieve the target production capacity, pointing to its success during the new Corona pandemic period in operating the heavy oil project and achieving the target production capacity of 60,000 barrels per day last September. He explained that there is 500,000 barrels per day of additional production capacity that will enter into service upon completion of the projects, drilling and well maintenance plans that are being implemented during this year and next, noting that the divided zone will add 350,000 barrels per day, bringing the total production capacity of the State of Kuwait to 3.5 million barrels of oil per day. . He added that the most important of these projects is a project to operate two new gathering centers in the north and south-east of Kuwait, in addition to developing and modernizing a number of gathering centers and a project to add facilities to deal with water associated with crude oil production. He added that these projects also include a project to implement and operate water injection facilities in reservoirs to raise production capacity and maintain reservoir pressure, and a project to develop existing Jurassic production facilities and implement the operation of two new facilities, as these facilities contribute to the production of free gas in addition to light crude oil. He pointed out that these projects and plans will be accompanied by an integrated program to drill about 500 wells annually on average, in addition to more than 2,000 well maintenance operations, indicating that there are currently about 71 drilling rigs operating in various areas of the company, in addition to about 62 additional towers to carry out well maintenance operations. He stressed that the operations in the divided zone, based on the agreement between the Kuwaiti and Saudi partners, are progressing at an "encouraging pace", as a number of plans were agreed upon in both the Al-Khafji Joint Operations Area and the Al-Wafra Joint Operations Area, where it is working to raise production capacity during 2022 to levels that exceed what it was. before closing. He noted the role of the Kuwait Oil Company during the Corona pandemic, as it continued to implement work plans despite the closures that faced the world and affected the work of contractors and their ability to implement projects, which finally resulted in the operation of Assembly Center 31 in North Kuwait, which was designed with a production capacity of 100,000 barrels of crude oil per day. He stressed the State of Kuwait's constant keenness to fulfill its obligations towards customers in global markets and its continuation to play its role as a safe and secure provider of oil and petroleum products.

Ministry
of Oil Tender
Announcement

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

The Ministry of Oil announces the launch of a general practice

The Ministry of Oil announces the launch of a general practice (license renewal and technical support for the PALOALTO FIREWALL program) For inquiries, please visit the Ministry building - the oil sector complex - the third floor - the fund department

The Ministry of Oil announces the launch of a general practice

The Ministry of Oil announces the launch of a general practice (license renewal and technical support for the CORTEX-XDR program) For inquiries, please visit the Ministry building - the oil sector complex - the third floor - the fund department

Library Search Engine

Kindly visit .. to search in OAPEC's library

Librarian: 24959790 – 24959791