Kuwait plans to increase free gas production and use it to stimulate the petrochemical industry

As part of its new vision for 2035, Kuwait plans to increase natural gas production, while continuing to maintain the oil production share as it is within the OPEC + alliance. With regard to natural gas, Kuwait has great potential in terms of infrastructure, and has large facilities to import gas. Oil Minister Dr. Muhammad Al-Faris says that Kuwait is working to increase the production of free gas to keep pace with the increasing global demand, and to provide new investment opportunities for petrochemicals. He added that despite the growth of the natural gas industry globally; However, it is facing increasing competition from the global shift towards renewable energy sources, in addition to other well-known challenges facing the gas industry in terms of exploration and development of gas fields, means of gas transportation and distribution, as well as measures to ensure the safety and suitability of gas infrastructure, which are significant challenges. As for oil, Kuwait plans to maintain its oil production rates in accordance with its quota from the OPEC + group, and it has plans to increase production whenever the market demands. Kuwait attaches great importance to increasing oil and gas exploration, to enhance its large strategic reserves. Acting CEO of Kuwait Oil Company, Khaled Al-Otaibi, says that “the company intends to increase its production of natural gas in line with the strategy of the Kuwait Petroleum Corporation to meet the domestic demand for energy.” He pointed to the increase in production mainly through the development of the production of free gas from the Jurassic fields. He explained that the Kuwait Oil Company signed a contract for offshore drilling and exploration for oil and gas in Kuwaiti territorial waters, which is one of the most important projects currently being implemented within the framework of the company’s strategy for the year 2040.