Dec 2016: Resumption of oil production from the joint oil fields in the Neutral Zone is due soon. Khafji was closed in October 2014 and Wafra has been shut since May 2015. Khafji is operated by Al-Khafji Joint Operations, a joint venture between Kuwait Gulf Oil Company and AGOC, a subsidiary of Saudi Aramco. Chevron operates the Wafra field.
Sep 2015: Kuwait plans to start an offshore oil exploration programme by 2018 according to a Kuwait Oil Co (KOC) executive. It already produces from the offshore Neutral Zone, sharing facilities and revenue with Saudi Arabia.
May 2015: The Wafra onshore oilfield in the Neutral Zone will now be shut for maintenance for 2 weeks to give time to resolve issues at Wafra and Khafji.
Apr 2015: Chevron plans to shut down the Wafra onshore oilfield in the Neutral Zone between Saudi Arabia and Kuwait. The oil output from the offshore Khafji field, also in the Neutral Zone, was halted in 2014 to comply with environmental regulations.
Mar 2015: Kuwait Oil Company (KOC) plans to tender in 2015 for oilfield enhanced TSAs. KOC wants to increase oil output to meet the state's target of 4 mm bbls per day by 2020. Its current capacity is 3.2 mm bbls per day and it aims to increase onshore drilling rigs by 50 percent to 120.
Jan 2015: The US$4.2bn Lower Fars Heavy Oil Development Phase 1 was awarded to Petrofac and Consolidated Contractors. The project includes plans to produce 60,000 bbls per day of heavy crude by 2018. In the second phase production is planned to double by 2020.
Oct 2014: Oil production from the Khafji oilfield, jointly owned by Saudi Arabia and Kuwait in the Neutral Zone, has been shut down to comply with environmental regulations. The field was producing around 300,000 bbls per day (GS notes: this may be in response to lower oil prices and unilateral price cuts by Saudi Arabia).
Apr 2014: Kuwait plans to award a US$4.2bn contract for Phase 1 of its northern Ratqa heavy oil field (Fars) project comprising horizontal wells and facilities , to produce up to 60,000 bbls per day by 2018, and 120,000 bbls per day by 2020. Four northern oil fields (Raudhatain, Ratqa, Sabriya, and Abdali) are being targeted.
Sep 2013: Kuwait and Saudi Arabia, who agreed to develop the Dorra offshore gas field in 2000, have shelved the project after disagreeing over how to share output. Iran also lays claim to part of the field. Kuwait relies on imports of LNG to meet summer air conditioning needs and hopes to increase gas output to more than 40 bcm per year by 2030 with over 10% coming from Dorra. Dorra has estimated reserves of 28 bcm of gas and 310 mm bbls of oil.
Jul 2013: Kuwait has discovered a new oil and gas field in the Kabed area close to the Manageesh field. No estimates of the reserves in the field in western Kuwait have yet been released.
Jun 2013: Kuwait plans to increase heavy oil production. Nearly 1,200 wells will be drilled to produce heavy oil in the northern region with capacity potentially reaching 270,000 bbls per day by 2030 under the project. The global market is now seeking heavy oil and the country has 3 of its own refineries and is planning a fourth.
Apr 2013: Kuwait is investigating a plan to extract shale gas from its northern fields. Kuwait is a major oil producer but its gas production is relatively low, depends on gas imports to meet demand. However, the potential shale gas reservoir is complex and production could take many years to realise. Neighbour Saudi Arabia has begun investigating its own unconventional deposits.