01/02/2026
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01/02/2026
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KUWAIT CITY, Feb 1: Kuwait Petroleum Corporation (KPC) intends to coordinate with foreign companies in the oil sector for various reasons, say reliable sources. Sources cited the reasons as follows:
* Introduction of foreign expertise into local operations to boost oil and gas production through more innovative methods, particularly since major international companies have the most advanced technologies.
* Availability of financial liquidity to implement oil projects without putting pressure on the budget of KPC.
* Difficulty of extracting oil from the northern fields, especially since the involvement of international companies will help overcome the challenges associated with complex reservoirs.
* Realize the objective to raise production to four million barrels of oil per day by 2035 and to maintain this level until 2040.
* Age of some oil reservoirs, which affected the smooth fl ow of oil, compared to the early stages of exploration.
* The need to dispose excess water associated with oil extraction, which has increased significantly since the oil field fires were extinguished following the liberation of Kuwait in 1991.
Sources indicated that although Kuwait Oil Company (KOC) has pioneering experience in extracting oil from complex reservoirs, there is still a need to benefit from foreign expertise. Sources were quick to stress that KOC is exerting tremendous efforts and achieving success in both offshore and onshore explorations, in addition to its work to increase Jurassic gas wells. Sources explained that the involvement of foreign companies is necessary to restore oil flow from the reservoirs to its previous level. Sources pointed out that the proposal to attract foreign companies to develop the northern oil fields dates back 1999 to 2000.
Sources said a technical study was conducted and reviewed by the Ministry of Oil, Supreme Petroleum Council, KPC and several other concerned entities. “The study focused on engaging or hiring foreign companies, not participation- based arrangements,” sources elaborated. Sources clarified that the involvement of foreign companies will be limited to contracting agreements covering the intensification of well-drilling operations, development of oil reservoirs, laying of pipelines, and introduction of advanced technology.
By Najeh Bilal Al-Seyassah and Arab Times Staff
