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FINANCIAL NEWS
Kuwait Oil to boost free gas output through 2015
16 Feb 2010
(MENAFN) The Managing Director of the Kuwait Oil Co. (KOC) said that the company is going ahead with its plan to reaching a production capacity of one billion cubic feet of free gas by 2015, in spite of many challenges ahead, Kuna reported.
The KOC’s plan for free gas industry involves three stages. The first stage targets a production capacity of 175 million cubic feet of gas per day, together with 50,000 barrels of light oil and condensates, he said.
The second stage targets 600 million cubic feet and 200,000 barrels of light oil and condensates per day by 2013. The third stage aims at reaching a production capacity of one billion cubic feet of gas per day, along with 350,000 barrels of light oil and condensates by 2015, he added.
The plan is chiefly meant to fulfill Kuwait’s domestic gas needs, he added, but he admitted that it was no so easy to put the blueprint in place.
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