Kuwait Oil Company Advances Key Projects Amid External Challenges
Kuwait Petroleum Corporation (KPC) announced that its subsidiary, Kuwait Oil Company (KOC), is making progress on key oil and gas projects in the upstream sector. This comes despite challenges in implementing some major strategic projects due to limited interest from international contractors for water management projects.
Despite these external factors, KOC maintained progress across its project portfolio, achieving its annual total crude oil production target of 2.72 million barrels per day (bpd) for the second consecutive year.
The company made significant discoveries in the offshore area, including the first gas field in Kuwait at Jazza Field and the drilling of the first two offshore wells in Julaia and Ruqwa fields.
KOC also commenced drilling the first well in Ras Ashairij and continued onshore exploration activities with the drilling of the first well in Karaa Al Marou field and the first well in Adal Field, confirming the existence of new hydrocarbon reservoirs.