Kuwait may reach four million barrels per day oil capacity soon

Kuwait may reach its goal to boost oil output capacity to 4 million barrels per day early after some new discoveries but the target date remains 2020, the head of state firm Kuwait Oil Company (KOC) said recently. "The oil production strategy is still 4 million barrels per day by year 2020. All our plans are based on that," KOC Chairman Farouk al-Zanki told Reuters.
Previous Oil Minister Sheikh Ali Jarrah al-Sabah, who resigned on Saturday, had said in May Kuwait might reach this target in 2012 after some recent finds. "The information wasn't correct," Zanki said. "It was misstated. Still our strategy is to achieve 4 million bpd by 2020." Asked if Kuwait might reach the 2020 target earlier after some recent finds, he said, "These (discoveries) open a new horizon....Maybe now we have more potential from the deep (fields) to achieve the 4 million bpd target earlier."