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Waiting for project Kuwait: Jon Gorvett reports from Kuwait where to increase oil output foreign help may be needed. Not everyone is keen on reopening national interests to outsiders.
WITH A QUARTER of the world's known oil reserves and a string of colossal budget surpluses in recent years, Kuwait is fast regaining its traditional role as a powerhouse of the Gulf--and global--economy.
The country is blessed with one of the world's largest oilfields, the onshore Grand Burgan. This is also one of the easiest energy reserves to tap anywhere in the Gulf.
Located southeast of the capital, Kuwait City, the oil of the Burgan still has enough pressure to bubble straight up to the surface unaided, around 100m above sea level. Collected at the wellheads, it then simply rolls downhill to the coast through pipelines, with gravity doing most of the work. Yet this great natural resource cannot go on like this forever. Increasingly, the question of what happens when the oil no longer almost barrels itself has become a subject of intense debate amongst Kuwaitis.
This debate intensified last November, when the chairman of the Kuwait Oil Company (KOC), Farouk Al Zanki, announced that Burgan's production levels were in decline. He said that although attempts had been made to maintain production at 1.9m barrels per day (b/d),…
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International oil companies (IOCs), which are currently enjoying record...new report by rating agency Moody's. IOCs should look forward to a more balanced...tipped NOCs to play a larger role than IOCs, but questioned their ability to meet...
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...factors points to eventual extinction. The IOCs' old strengths in project execution are...and demanding. But predictions of the IOCs' demise belie Big Oil's ability to adapt...International, Robert Olsen, maintained that the IOCs still have a unique offering--combining...
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...this environment, the international oil companies (IOCs) are increasingly challenged by a breed of assertive...competitive scenario for the industry as a whole. IOCs Under Siege Today, the IOCs seem to be under siege on many fronts, facing problems...
Source: HighBeam Research, Waiting for project Kuwait: Jon Gorvett reports from Kuwait where to...
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