Kuwait Oil and Gas Report - Business Monitor International - Industry Reports

Kuwait Oil and Gas Report

Kuwait Oil and Gas Report - Business Monitor International - Industry Reports
Kuwait Oil and Gas Report
Published Oct 01, 2016
73 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

The Kuwaiti oil sector registered a third year of contraction in ----. ...The move will reduce government subsidy patterns, but also drive a switch to less efficient lower octane fuel. Kuwaiti officials have reaffirmed production capacity targets of -.---mn b/d by ---- and -mn b/d by ----, though nuanced this to include output of both crude and condensate. In H---, Kuwait National Petroleum Company awarded a USD-.-bn contract to a Korean consortium to construct an LNG import terminal in Al-Zour. ...� Kuwait Oil Company confirmed it would offer contracts for offshore rigs and support services as part of an offshore drilling campaign. Up to -- offshore wells could be drilled in ---- as part of the programme, though Kuwait is likely to fall short of plans to increase the number of rigs by -- , reinforcing doubts over ambitious offshore goals.

...Kuwait is believed to possess an estimated ---.-bn barrels (bbl) of oil reserves as of ----. The Saudi- Kuwaiti Neutral Zone holds a further -bn bbl, half of which belongs to Kuwait. ...The funds are intended to shore the up the outlook for the sector, which has not attracted the same level of foreign investment as other major Gulf producers. Kuwait has said it intends raise production capacity to -mn b/d by ---- and maintain that figure to ----, by when it also intends to raise gas output to --.-mn cubic meters per day. In order to achieve this ambitious targets, Kuwait will have to prove new reserves of both oil and gas, as well as boost recovery from existing fields. ...The fields, which contain both light and heavy oil grades, have significant commercial potential according to state-run Kuwait Oil Company (KOC).

...In March ----, Kuwait announced the discovery of a new oil field in the al-Jathatheel in west of the country. No resource estimates were announced with the discovery and testing is reportedly ongoing. Kuwait announced in May that it had set aside USD --- bn to spend on oil projects over the next five years. A senior official confirmed that two-thirds of that figure had been set aside for exploration and production, though no breakdown of the planned investment was provided. Kuwait Oil Company (KOC) confirmed in mid-April it planned to offer contracts for offshore rigs and support services as part of an offshore drilling campaign. ...

  
Source:
Document ID
1748-4081
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Kuwait Oil and Gas Report" Oct 01, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Kuwait-Oil-and-Gas-Report-2026-512>
  
APA:
Business Monitor International - Industry Reports. (2016). Kuwait Oil and Gas Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Kuwait-Oil-and-Gas-Report-2026-512>
  
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