KUWAIT CITY, July 8: The Kuwait Oil Company (KOC) is preparing an implementation plan aimed at aligning with the country’s strategic goals for the oil sector, focusing on increasing production, reports Al- Jarida daily quoting informed oil sources. This plan includes the establishment of a committee and specialized work teams tasked with developing and analyzing positions, goals, and initiatives crucial to implementing the strategy. The overarching goal is to create specific and comprehensive frameworks for optimizing the utilization of Kuwait’s oil and gas reserves. Given its role in production operations, KOC has initiated several key initiatives to support its strategy.

These initiatives encompass defining the scope of gas and potential production projects, including phased production of Jurassic gas according to a specific vision. Moreover, there are plans underway to explore, develop, and produce new conventional and heavy oil reserves. Specifically, KOC aims to increase heavy oil production to approximately 580,000 barrels per day by 2040. Recently, KOC announced the signing of nine contracts with five local companies for providing drilling rigs for heavy oil production operations in northern Kuwait fields. These contracts mark a significant step towards supporting the local economy, as they involve local companies collaborating with internationally qualified firms specializing in drilling and well repair operations. The initiative is aimed not only at enhancing local capabilities but also at creating job opportunities for young Kuwaitis within the oil sector. The nine contracts are expected to generate approximately 126 job opportunities.