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Kuwait's oil sector is pursuing an ambitious expansion of heavy oil production, with plans to increase capacity to 430,000 barrels per day (bpd) by 2040, local Arabic language newspaper Aljarida reported on Saturday
The report, quoting a source, said heavy oil has become an increasingly important component of Kuwait's production portfolio, with production reaching approximately 60,000 bpd.
The next phase of development aims to increase production capacity to 85,000 bpd in the near term, followed by a further rise to 115,000 bpd by 2030, the report said.
Under the oil sector's long-term strategy, production capacity is targeted to reach 430,000 bpd by 2040.
According to the source, the expansion of heavy oil production is a strategic priority as it contributes to increasing overall production capacity while diversifying the range of crude grades produced by the country.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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