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The Kuwait Petroleum Corporation has begun to focus on the Durra gas field in order to increase oil production to 4 million bpd. Under KPD’s subsidiary Kuwait Oil Company's (KOC) strategy, capacity will reach 3.65 million bpd by 2035, with $11 million in additional state revenue. The estimated cost sits at $410 billion, with financing supported by KPD’s cash flow, debt and partnerships with other companies. The project also holds a goal of net zero emissions by 2050. However, some conflict over contested ownership has arisen over Durra, as Iran believes the Kuwaiti-Saudi development agreement for the area illegally excludes them. Kuwait’s oil minister Al Barrak has called on Iran to first demarcate its maritime borders, but followed with a statement that Kuwait will be able to commence drilling in Durra before these boundaries are established. Meanwhile,with a goal of reaching refining capacity to 1.6 million bpd domestically and 425,000 bpd abroad, Kuwait has been looking towards other regional reserves, including Ratqa and Abdali oilfields with Iraq, and both the Al Zour refinery and Oman's Duqum refinery.

Kuwait pushes on with Durra gas field, seeks to boost oil production

The Kuwait Petroleum Corporation has begun to focus on the Durra gas field in order to increase oil production to 4 million bpd. Under KPD’s subsidiary Kuwait Oil Company’s (KOC) strategy, capacity will reach 3.65 million bpd by 2035, with $11 million in additional state revenue. The estimated cost sits at $410 billion, with financing supported by KPD’s cash flow, debt and partnerships with other companies. The project also holds a goal of net zero emissions by 2050. However, some conflict over contested ownership has arisen over Durra, as Iran believes the Kuwaiti-Saudi development agreement for the area illegally excludes them. Kuwait’s oil minister Al Barrak has called on Iran to first demarcate its maritime borders, but followed with a statement that Kuwait will be able to commence drilling in Durra before these boundaries are established. Meanwhile,with a goal of reaching refining capacity to 1.6 million bpd domestically and 425,000 bpd abroad, Kuwait has been looking towards other regional reserves, including Ratqa and Abdali oilfields with Iraq, and both the Al Zour refinery and Oman’s Duqum refinery.

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