(MENAFN- Arab Times) Kuwait produces 130-140 million cb ft of gas and 50,000 barrels of oil a day and plans to increase these to 175 million cb ft and 60,000 barrels respectively, said Chairman and Managing Director of Kuwait Oil Company (KOC) Sami Al-Reshaid on Tuesday.
"We are planning a project that will lead to a rise in the production of gas to 175 million cubic feet a day," Al-Reshaid said on the sidelines of the International Professionals in Energy Conference, IPEC, adding "we are currently planning to increase our production to 60,000 barrels of oil." Obstacles facing these aims are "old designs" that cannot accomodate the aspired production levels.
He explained that in order to increase the produce of one of these energy sources, the other had to go hand-in-hand with that increase. "If we wanted to produce 175 cb ft (of gas) there is a need to produce 60, 000 barrels of oil in the same production process," he said. Seperately, Al-Reshaid said that the percentage of women's employment in KOC has almost doubled in recent years from 7pct to 15pct, while women hold a 12pct average in decision-making positions. He urged the need for women to be on common ground with their fellow male counterparts, Al-Reshaid added.
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