The state-owned Kuwait oil company aims to increase natural gas production to meet local demand, the company's acting chief executive officer Khaled Nayef Al Otaibi said on Sunday.
"With the world recovering from the disruptions caused by COVID-19 pandemic, demand for oil and gas returned to its pre-pandemic levels in 2019. In this high prices environment, the company is determined to increase its natural gas production in line with Kuwait Petroleum Corporation's strategy to meet the domestic demand for energy", he added during his speech at an energy conference in Kuwait.
Kuwait produces 650 million cubic feet of gas per day, and plans to increase it to one billion, Kuwait Petroleum Corporation's (KPC) chief executive said later Sunday.
Sheikh Nawaf Saud al-Sabah also said the Gulf state currently produces more than 2.8 million barrels per day of oil in accordance with its OPEC quota.
He said Kuwait has plans to increase crude oil production whenever the market needs it, but currently the customers of the state-owned corporation still demand the same volumes with no change.