- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
Kuwait intends to increase its oil production to 3 million B/D in 2025
The CEO of Kuwait Oil Company, Ahmed Jaber Al-Eidan, stated that Kuwait currently has oil production capacities exceeding 2.8 million barrels per day, and it is targeted to increase this to reach three million barrels per day in 2025.
However, Kuwait is committed to the cuts decided by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, according to Al-Eidan’s statement.
Al-Eidan confirms that the Kuwait Oil Company and the Kuwait Gulf Oil Company, which work with the Saudi side in the neutral zone divided between the two countries, are committed to achieving Kuwait’s strategy aimed at reaching a production capacity of four million barrels per day in 2035 and maintaining this rate until 2040.
He explained that the Kuwait Oil Company intends to spend about 13 billion dinars ($42.4 billion) on its oil projects during the next five years until 2027/2028. Most of these projects are devoted to drilling oil wells, treating wells and related services, and building a number of necessary oil facilities.
