Kuwait says that it remains committed to producing 4mn b/d oil by 2020. But it has quietly shifted the goalposts. Previously the target was explicitly for crude production. Not anymore. Jamal Jaafar, CEO of the Kuwait Oil Company (KOC) indicated on 11 April that the target is now for liquids – and so includes condensate and NGLs.
Speaking on the sidelines of the 4th Kuwait Oil and Gas Summit in Kuwait, Mr Jaafar said he expects 300,000 b/d liquids production from the Jurassic gas project, and “we consider the Jurassic part of the new oil and in our targets for 2020.” (CONTINUED - 1390 WORDS)
