Opec quotas limit KPC production levels
Kuwait’s oil production capacity has now topped 3.15 million barrels a day (b/d), according to senior executives at state energy firms.
The figure includes oilfields based in Kuwait and the country’s share of output in the Divided Zone between Kuwait and Saudi Arabia.
Production capacity in Kuwait is 2.82 million b/d, with the remainder coming from the Divided Zone.
State energy giant Kuwait Petroleum Corporation (KPC) said in March 2009 that the country could only produce 3 million barrels a day.
KPC subsidiary Kuwait Oil Company (KOC) operates all the oilfields in Kuwait, while Al-Khafji Joint Operations, a Saudi/Kuwaiti joint venture, controls production in the Divided Zone.
Although Kuwait can now produce 3.15 million b/d, the country is still subject to quotas set by the international oil cartel Opec, of which it is a member.
“It makes no difference to the Opec quota at the moment, so they cannot pump any more from the ground for the time being,” says a senior KOC source.
Kuwait pumped 2.29 million b/d in November 2009, the last month data is available for, according to the Riyadh-based Joint Oil Data Initiative.
Sources close to KPC say they expect output in Kuwait to rise to more than 2.92 million b/d in late 2012, increasing overall production to about 3.25 million b/d.
KOC wants to be able produce 3.5 million b/d by 2015 and 4 million b/d by 2020.
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