A key oil well under development was identified as Al Wara. Officials
said Kuwait Oil plans to increase production at Al Wara from 80,000 to
350,000 barrels per day by 2014.
Meanwhile, Oman plans to launch a major effort to increase crude
oil production.
Officials said the Gulf Cooperation Council intends to spend $3.5
billion by 2015 to raise crude oil output. They said the goal was to
increase production by at least 18 percent, or one million barrels per day.
Oman has been one of the smaller energy producers in the GCC, with an
output of 850,000 barrels per day. The Gulf Arab sultanate, in a major
upgrade ordered nearly five years ago, has reported an increase in crude
production in 2008 and 2009.
Officials said a key element in the project would be the drilling of
several wells. They said the wells would located in Al Ghubar South field,
with estimated reserves of one billion barrels.
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