Kuwait Petroleum Corp to Commence Durra Gas Field Operations Later This Year

Kuwait Petroleum Corporation (KPC) will initiate drilling and construction for the Durra gas field later this year following the completion of engineering studies this summer, KPC CEO Sheikh Nawaf Saud Al-Sabah informed Reuters on Thursday.

Al-Sabah also indicated that KPC aims to reach a production capacity of 3.2 million barrels per day (bpd) by the end of the year, with aspirations to elevate this to 4 million bpd by 2035.

The company plans to invest approximately 7 billion Kuwaiti dinars ($22.92 billion) into its upstream operations over the next five years. "We are finishing updating the engineering studies and then starting the drilling and facility construction procedures," he stated.

(With inputs from agencies.)