By: Ahmed Awad
Kuwait – Mubasher: Kuwait Oil Company’s investment plans are ongoing to increase the production capacity to 4 million barrels per day (bpd) by 2020, according to the company’s CEO Jamal Jaafar.
Some of the company’s fields will be under maintenance during the period of cutting oil production to the level agreed on in the last OPEC meeting, the CEO said.
The company’s current oil production stand at 3.1 million bpd, yet it may fall to 2.9 million bpd.
The production of heavy oil will start in December 2018 with an initial capacity of 10,000 bpd, with expectations to reach 60,000 in 2020, Jaafar noted.
Production is halted in the joint oil field between the Kingdom and Kuwait for two years, the CEO said.
Translated by: Julian Nabil
