HOUSTON, Oct 4 (Reuters) – The Durra gas field in the Arabian Gulf is expected to be fully commissioned by 2029, a deputy managing director of Kuwait Petroleum (IPO-KUWP.KW) said on Wednesday.
A Kuwaiti-Saudi Arabian development agreement signed last year has been criticized by Iran, which claims a stake in the field. Durra holds an estimated 20 trillion cubic feet in proven reserves.
Kuwait also is committed to oil producers’ group OPEC+ production guidance and is not going to produce above quota, Shaima Al-Ghunaim said at the Baker Institute’s Center for Energy Studies.
The Middle East country has been adding to its production capacity, and expected to be able to pump 3 million barrels per day by 2025, up from current 2.8 million bpd now. Kuwait plans to have enough spare to ensure enough supply if needed, she said.
Source : Reuters
