Kuwait has unveiled a strategic initiative to enhance its oil production capacity and develop the Durra gas field, despite ongoing territorial disputes with Iran. The state-owned Kuwait Petroleum Corporation (KPC) has set an ambitious goal to increase its production capacity to 4 million barrels per day (bpd) by 2035, with an intermediate target of 3.2 million bpd by 2025-2026. This effort is a key part of the country’s plan to strengthen its position in the global energy market and ensure sustainable economic growth.
The development of the Durra gas field is a major focus, with the offshore field estimated to hold 20 trillion cubic feet of proven reserves. Kuwait and Saudi Arabia have exclusive rights to the field, despite Iran’s objections. In terms of investment, KPC plans to allocate $410 billion through 2040, with $110 billion designated specifically for energy transition goals. KPC’s subsidiary, Kuwait Oil Company (KOC), aims to expand production capacity to 3.65 million bpd by 2035, which is expected to generate an additional $11 billion in state revenue over the next five years. Additionally, KPC has set a goal for net-zero emissions by 2050, with a focus on expanding refining and gas production capabilities to meet this target.
Kuwait’s efforts to reinforce its energy sector through strategic investments, refining capacity expansion, and joint field development agreements further solidify its position as a major player in the global oil market.
