Kuwait's oil output capacity rises to 3.3 mln bpd - KPC

Joseph Keefe
Monday, April 07, 2014

Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5 million bpd in 2015, the head of its state oil company said on Monday.

Kuwaiti officials have previously said that capacity in the OPEC member state was around 3.1-3.2 million bpd.

"Kuwait has increased its production capacity to 3.3 million barrels per day. It will reach 3.5 million barrels per day by 2015," Kuwait Petroleum Corporation Chief Executive Nizar al-Adsani told an oil conference.

Kuwait still hopes to reach 4 million bpd of capacity in 2020, despite slow progress in developing new projects. But Adsani said the Gulf Arab state needed more help from abroad to achieve that long-term target.

"There is an urgent need to seek the assistance of foreign companies given the technologies and expertise that will contribute to the rationalisation of the use of the natural reserves we have," he said.

Reporting by Sylvia Westall

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

BW LPG Registers 10% Growth in VLGC Fleet

Less domestic petrochemical consumption of LPG would be positive for VLGC shipping as it would result in a greater surplus of LPG available for export.    However,

Subsea 7 Secures EPCI Contract

Subsea 7 S.A. announced it has been awarded an engineering, procurement, construction and installation (EPCI) contract for offshore execution in 2017 and 2018.   The

Tanker Trends

TORM CFO Zacho Resigns

Mads Peter Zacho, Chief Financial Offer at TORM, has resigned to become Chief Executive Officer at J. Lauritzen A/S. Mads has been with TORM since 2013 and will

Alfa Laval PureNOx Prime Ordered for Five VLECs

Alfa Laval’s new PureNOx Prime solution for water treatment in Exhaust Gas Recirculation (EGR), will be part of EGR systems on five very large ethane carriers

NASSCO Delivers Second ECO Tanker to APT

On Thursday, May 19, shipbuilders at General Dynamics NASSCO delivered the Magnolia State to longtime customer American Petroleum Tankers (APT). The ECO Class tanker

Energy

Wood Group Bags Statoil MSA

Wood Group has been awarded an evergreen master services agreement (MSA) by Statoil to support the life cycles of its offshore  and onshore facilities. Work and

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

Offshore Energy

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

Russian Shipbuilder Wins $1 bln Iran Oil Rig Deal

Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf,

Aquabotix Debuts Mini Inspection Class ROV - The Endura

Aquabotix, a marine technology company delivering the accessibility of today’s electronics products to underwater ROVs, announces the immediate availability of the Endura.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0814 sec (12 req/sec)