Kuwait’s most senior upstream executive says the State will continue to pump 3 million barrels a day in light of strong demand.
KOC director Sami Al-Rushaid, speaking from the NOCs and Governments summit in Dubai, told reporters he expected current production rates to continue.
Kuwait told OPEC it pumped 2.98 million barrels a day in August. According to OPEC’s secondary sources, Kuwait pumped 2.8 million.
Kuwait is progressing with an ambitious upstream program in the north and west of the country, and is widely tipped to be a hot exploration and production market in 2012-13.
According to Rushaid, the country’s north fields, which primarily produce heavy crude, are pumping 700,000 barrels a day, which should rise to 1 million bpd by 2017.
Tenders for gas facilities to deal with the additional associated gas are due to be issued in late 2013.
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