KUWAIT, May 7 (KUNA) -- Kuwait Gulf Oil Company (KGOC) is implementing a strategy, effective till 2030, aimed at increasing its daily output of oil from 250,000 barrels to 350,000 barrels by 2014-2015, according to the company's Chairman and Managing Director Hashem Al-Rifaee.

Al-Rifaee, in remarks to Kuwait News Agency (KUNA), incorporated in a lengthy report, prepared by the news agency, addressing status of work of the oil company, and prices of the crude oil in light of a sequence of geopolitical crises and wars, indicated that the company aimed at hiking the daily output of gas, extracted out of the oil fields, to 500 million cubic feet by 2014-2015.

The scheme stipulates exploration and development of sites rich in natural gas in the divided zone, development of Lulu field, developing surface facilities of Al-Durra field, construction of a station for gas extraction, in addition to exploration and development of deep strata of the ground.

Elaborating, he said the strategy aimed at upgrading the underground traps to enhance productivity, increasing efficiency of land and marine exploration, hiking profit making and applying state-of-art technology.

Hiking the KGOC output falls within framework of strategy of the national umbrella authority of the oil sector, Kuwait Petroleum Corporation (KPC), to increase the output of crude oil to four million barrels per day by 2020.

Shedding light on the KGOC projects, Al-Rifai singled out the gas gathering venture, upgrading the marine rigs and replacing pipes at sea bed.

Moreover, the company is involved in several projects in the joint operations zone, Al-Khafji and Al-Wafra, in the coming five years, at a projected sum of KD 615 million, including KD 152 million this year. He alluded in particular to development of Al-Durra and Al-Wafra fields and explorations in Lulu.

Due to shortage of resources of natural gas, the company is also involved in various other exploration and development ventures for extraction and treatment of oil-linked gas, hinting at a plan to secure 400 million cf of gas by 2020 and 500 million cf by 2030.

Although the company is seeking to maximize the gas output, it is simultaneously sparing no effort to keep proportion of burning gas at 62 percent, with the aim of cutting this proportion further gradually.

Al-Rifai disclosed a contract with a specialized company to secure 40 million cf of gas per day from Al-Khafji for the local market, through a network of pipes.