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A member of Kuwait’s Supreme Petroleum Council has said that the world’s second largest oilfield may see a decline in output without the expert assistance of international oil companies (IOCs).
Zawya Dow Jones reported that Imad Al Atiqi said that the Burgan field in the Gulf state has a production capacity of between 1.4 million to 1.5 million barrels per day (bpd). This capacity was supposed to be sustainable for 10 years with the help of IOCs.
“Without this [IOC] expertise, I don’t suppose this current production rate [of the Burgan field] will be effectively sustained for more than five years,” Atiqi is quoted by Zawya Dow Jones as saying.
The country’s failure to renew service agreements with supermajors such as Chevron and BP has been cited as a major cause of concern in Kuwait. Chevron recently closed its office in Kuwait City due to a lack of work in the country.
Most of Kuwait’s oilfields are mature and without advanced oil recovery techniques the country will struggle to reach its planned capacity of 4 million bpd by 2020.
Advanced oil recovery techniques such as steamflooding are being successfully carried out by Chevron in the Neutral Zone between Kuwait and Saudi Arabia.
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