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Wednesday, February 3, 2010     FOR YOUR EYES ONLY

Kuwait ups oil production capacity by 20 percent

ABU DHABI — Kuwait has been steadily bolstering its crude oil production capacity.   

Officials said the Gulf Cooperation Council sheikdom, the fourth largest oil exporter, has reached a crude oil output capacity of 3.15 million barrels per day.

They attributed the 20 percent increase in Kuwait's capacity to exploration and development of reserves as well as advanced technology.


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"We are at 3.15 million barrels per day capacity today, and hopefully will push to reach the target of 3.5 million barrels per day in 2015," Kuwait Oil Co. deputy chairman Mohammed Hussein said.

[On Feb. 2, Kuwait's parliament approved a four-year energy development plan valued at more than $100 billion in an effort to increase oil and natural gas production. Under the plan, the private sector would gain greater access to sheikdom energy projects.]

Addressing an energy conference in the United Arab Emirates on Feb. 1, Hussein said Kuwait was scheduled to launch operations of oil and gas gathering stations in 2010. He said one such facility would add 165,000 barrels of oil per day to the sheikdom's capacity, while another would bolster output by 100,000 barrels per day.




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