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Trial production launched in Al Wafra, Al Khafji oilfields – Minister

Trial production launched in Al Wafra, Al Khafji oilfields – Minister
Joint production in the area could reach 550,000 bpd

Mubasher: Kuwait’s Minister of Oil, Electricity, and Water, Khaled Al Fadhel, said that a trial phase of oil production from Al Wafra and Al Khafji oil fields started on Sunday 16 February. The volume of pumped crude will be gradually increased until it reaches normal levels, Kuwait News Agency (KUNA) reported.  

The two fields in the neutral zone could reach 550,000 barrels per day (bpd) before the end of the year, he revealed, adding that production of Al Wafra and Al Khafji fields recorded 140,000 bpd and 250,000 bpd, respectively, representing Kuwait’s share.

Production in the zone is jointly shared between Saudi Arabia and Kuwait.

The oil strategy, which was approved by the Supreme Petroleum Council of Kuwait, aims to raise output levels to about 4 million bpd by 2040.  

Moreover, Al Fadhel asserted that the Gulf state is committed to its output quote, totalling 2.669 million bpd, set by OPEC, noting that lower production will not affect the country’s general budget as it will be countered by higher prices.     

In view of the coronavirus’ (Covid-19) impact on oil prices, the minister referred to a different statement made by ministers of OPEC’s member states revealing a potential cut in global output in a bid to restore balance to the global oil market.

Translated by: Amal A. Wahaab