The CEO of the Kuwait Petroleum Corporation, Sheikh Nawaf Saud Al-Sabah, said today, Tuesday, that the oil production capacity in Kuwait has now exceeded 3 million barrels per day.
Kuwait aims to increase its crude oil production capacity to 4 million barrels per day by 2035.
Ahmed Jaber Al-Eidan, CEO of Kuwait Oil Company, affiliated with the Petroleum Corporation, said in June that the country’s oil production capacity exceeded 2.8 million barrels per day, expected at the time to reach 3 million in 2025.
Sheikh Nawaf also expected in July that Kuwait would reach a production capacity of 3.2 million barrels per day of oil before the end of 2024 and then increase it to 4 million by 2035.
Sheikh Nawaf said on Tuesday to reporters on the sidelines of an oil conference in Kuwait, “We have increased production capacity to 3 million. We are continuing with our plan, God willing.”
Sheikh Nawaf commented on US President Donald Trump’s plans to boost oil and gas production in the United States, saying, “There is no alternative to oil as a main source of energy, neither now nor in the future.”
He added, “Perhaps this is what President Trump and officials in the United States have realized, that there must be a continuation of oil exploration and production, and this is what we reflect here in Kuwait.”
“We know that the demand for Kuwaiti oil will increase in the future,” he said.
Kuwait Oil Company, which is responsible for producing more than 90% of the country’s oil, aims to have a production capacity of 3.65 million barrels per day of oil by 2035.
Another 350,000 barrels per day are expected to come from the divided zone, which is operated jointly by Kuwait and Saudi Arabia.
Kuwait is working hard to increase its production capacity with a focus on new marine discoveries, and the Kuwait Oil Company aims to drill 6 exploratory wells in the current phase of work in the marine area, followed by 3D seismic surveys.
During a speech delivered on behalf of the Minister of Oil and Chairman of the Board of Directors of the Kuwait Petroleum Corporation, Tariq Al-Roumi, at the “Keeping the Seas Clean” organization conference.
– CEO of the Foundation, Sheikh Nawaf Saud Al-Nasser Al-Sabah: Kuwait has developed an integrated long-term plan to ensure the efficient implementation of the integrated management program for areas… pic.twitter.com/SNcDQg1APu
– KUNA (@kuna_ar) January 21, 2025
Yesterday, Monday, the Kuwait Oil Company announced the discovery of hydrocarbon resources in the Julayah offshore field, with reserves estimated at about 800 million barrels of medium-density oil in addition to 600 billion standard cubic feet of associated gas.
Last year, Kuwait announced that it had made a “giant” oil discovery in the Nokhatha offshore field east of the Kuwaiti island of Failaka, with reserves estimated at about 3.2 billion barrels of oil equivalent.
Ahmed Al-Eidan told reporters on Tuesday that the company aims to reach “full production” from offshore fields within 8 to 10 years.
Sheikh Nawaf Al-Sabah said today that his country has completed engineering studies for the Dorra gas field, stressing that the plan drawn up for it is proceeding according to the schedule “in full agreement” with Saudi Arabia.
He told reporters, “We are continuing according to our plan. We have completed our engineering studies, and we will enter into the subsequent procedures. This is all according to the plan.”
Iran has previously demanded a share in the Dorra field, whose proven reserves are estimated at about 20 trillion cubic feet, and described the Kuwaiti-Saudi agreement to develop it concluded in 2022 as “illegal.”
