The Kuwait Oil Company or KOC is actively working towards increasing crude production capacity, Kuwait Petroleum Corporation CEO Hashem S Hashem has been quoted by official sources as saying.
Hashem said recent information regarding KOC’s production capacity decline doesn’t provide a complete picture of the Kuwaiti oil sector’s performance in general nor KOC’s performance.
He clarified that there are 500,000 barrels per day of potential capacity that is pending to be unlocked as associated capital projects and drilling and workover programs are completed in the next two years.
The KPC CEO was quoted by the official statement as saying that KOC is currently implementing numerous strategic projects that are directly linked to increasing sustainable production capacity to reach 3.2 million barrel per day gradually in 2025.
The Divided Zone capacity is expected to contribute the additional 350,000 barrels per day to help Kuwait reach the overall production capacity of 3.5 million barrel per day.
The main projects are said to include commissioning of two new gathering centers and complete revamp of several existing gathering centers and building water handling facilities.
They also reportedly include building water injection facilities to increase production and maintain reservoir pressure, and upgrading current production facilities, besides establishing two additional facilities to increase light crude production.
This plan is expected to be implemented in combination with an integrated drilling program of 500 wells per year annually on average and around 2,000 wells workover, said Hashem
This will take place through 71 drilling rigs and 62 workover rigs working in the different areas, he added.
Hashem is also said to have pointed out that activities in the divided zone are progressing positively after the agreement between the partners, where it is expected to reach pre-ceasing the production level in 2022.
The KPC CEO explained that KOC is exerting all efforts to achieve the targeted production capacity, where these efforts were recognized during the wide-spread of Covid-19 virus, as KOC has successfully commissioned Lower Fars Heavy Oil facilities and achieved its targeted production of 60,000 barrels.