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FINANCIAL NEWS
Kuwait plans big hike in gas production
28 Apr 2010
(MENAFN) A top executive at Kuwait Oil Co (KOC) said that the country plans to quadruple its gas production to more than 4 billion cubic feet per day (cfd) of gas by 2030, Reuters reported.
Deputy managing director for planning and gas at KOC, Mohammad Husain, said that Kuwait currently pumps about 1 billion cfd of gas from oilfields, and 145 million cfd from gas fields not associated with oil.
Husain explained that the 4 billion cfd target would include a huge rise in non-associated gas output to 2.7 billion cfd. The non-associated gas would come from the neutral zone the country shares with neighbour Saudi Arabia and from fields within Kuwait, he said.
It is worth mentioning that Kuwait does not have sufficient amounts of natural gas to meet power demand and it burns a large volume of oil products at power stations. The country has been slow to develop its gas reserves to meet domestic demand.
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