Kuwait plans to boost heavy crude production by 370,000bpd by January
It plans to rocket its oil production capacity as part of a larger 2040 oil production strategy
Kuwait Oil Company said that the first phase of heavy crude oil production at Al Ritqa, a northern Kuwaiti oilfield, is expected to hit production levels of 11,000 barrels per day (bpd) by August.
The project aims to boost heavy crude output to 430,000bpd, up from 60,000bpd, through multiple phases by January, according to the Kuwait News Agency, which cited Fatama Al-Kanderi, who oversees project planning at KOC.
Boosting heavy crude output is a major part of the country's 2040 oil production strategy. Kuwait plans to increase overall oil production capacity to 4.75mbpd by 2040, up from its current capacity of 3.15mbpd.