KUWAIT

(in Middle East)

CAPITAL: KUWAIT CITY

POPULATION: 2.5 mm

AREA (on): 17,820 km2

OIL PEAK: 1972

SUPPLY

As a member of OPEC Kuwait restricted oil output for many years prior to 2003 and also saw production decline during the 1st Gulf War.

Oil production, the bulk of which comes from the giant Burgan field, peaked in 1973 and, despite new investment in other fields, especially near the Iraqi border, the country has been struggling to match former levels. However, after a period of output restriction in 2009 and 2010, it is forecast that growth will occur up to 2016, as oil from the old northern fields are exploited. Subsequently decline at Burgan will dominate. Oil production from the Neutral Zone, shared by Saudi Arabia, will increase a little over the same period.

Kuwait’s associated gas production is due to expand considerably as associated gas percentages increase in the oil fields and as new infrastructure is built.

 

DEMAND

Kuwait’s oil and gas consumption are both increasing as the region’s economy has been strong in the high oil price environment and more stability in Iraq. A brief flat period will be followed by a reurn to rising oil use. Exports of oil are also growing but will flatten off after 2015.

Kuwait may avoid having to import gas, which it uses for electricity generation, desalination plants and for residential markets, if its oil development programmes can proceed effectively. However the gas balance depends on how much is needed to sustain production at its declining oil fields.

 

 
 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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