Kuwait plans to start an offshore oil exploration programme within two years, state news agency KUNAÂ reported on Wednesday, 16 September, 2015.
The report cited a Kuwait Oil Company (KOC) executive as saying the move is a part of the country’s plans to boost oil output capacity.
In comments suggesting Kuwait will maintain energy investments despite plunging oil prices, KOC’s manager of planning, Bader Al-Attar, was quoted as saying his country aimed to add a total of 700,000 barrels per day (bpd) of crude oil production capacity from offshore and onshore areas.
Attar did not identify the potential offshore locations, Reuters reported.Â
Most of Kuwait’s production is from the onshore Burgan field in the southeast of the country.
Attar also said Kuwait aims to boost production capacity to 3.5 million bpd by the end of 2015, including from the Neutral Zone, from around 3.15 million bpd currently, the report by Reuters continued.
