KOC: Gas production to reach 3bn cubic feet by 2030

Non associated gas production in Kuwait will gradually increase to three billion cubic feet by 2030, an official said Monday. Hashem Hashem, executive director of the Oil and Gas Show and Conference, said Kuwait Oil Company's (KOC) 2030 strategy aimed at achieving objectives of energy production as well as seeking alternative energy resources. Hashem, also KOC's executive president, addressed attendees at the show and conference, said the strategy would be accomplished through development of employees, commitment, profitability coupled with honoring environment safety criteria. KOC and its Kuwait Gulf Oil Company plan to increase oil production to four million barrels per day (bpd) by 2020 and maintaining it up for 10 years. KOC's production increased by 300,000 bpd which exceeded its 2010 projections, said Hashem, thus boosting confidence that the company was capable of producing four million bpd by 2020 but in collaboration with Kuwait Gulf oil company. Hashem said non associated gas production would also increase to a billion cubic feet at initial phase and then to three billion by 2030. "Our vision aims at developing our gas resources because it is a national demand designed to meet our growing energy needs," he said. For her part, Husniya Hashem, Chair of the conference's technical committee, said the conference was discussing Kuwait's major industry which was contributing to 93 percent of revenues and 40 percent of GDP. Hashem, deputy managing director of Kuwait Foreign Petroleum Exploration Company (KUFPEC), said around 1,200 specialists were taking part in the conference.