Kuwait can squeeze out additional 50,000 bpd from oilfields

Kuwait has already ramped up its crude oil production recently by 150,000 barrels per day (bpd)  from an existing spare output capacity of about 200,000 bpd, Kuwait’s energy minister said.

“We have additional production capacity that we can use. We are talking about 200,000 barrels per day,” Shaikh Ahmad Al Fahd Al Sabah said.
The Gulf Arab state has in the past two months raised its output from about 2.2 million bpd and is now trying to pump oil at a rate of about 2.4 million bpd, he said.
Kuwait, which has a tenth of global crude reserves, can reach to a maximum production ceiling of about 2.45 million bpd or a little higher at present, the minister added.
Kuwait has an official Opec quota of just over 1.8 million bpd.
“We can reach to 2.45 million  bpd,' Shaikh Ahmad said. “Lately, we have been trying to increase production and trying to bring down prices. We are working for market stability and we have increased by 150,000 barrels per day.'
Asked later if Kuwait can go above the 2.45 million-bpd level, he said an additional 50,000 bpd or so could possibly be squeezed out of the country’s oilfields at present.
“It depends on the work in the fields ... I think 2.5 million bpd is the (absolute) maximum,” the minister said.
Kuwait, he said, may be able to hike its total production capacity further, by another 200,000 bpd, towards the end of the year after the rebuilding work is finished on an oil-gathering centre in northern Kuwait damaged by a fire in 2002.
The unit is one of more than 20 such facilities around the country.

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