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(MENAFN - Kuwait News Agency (KUNA)) The KOC's Deputy Managing Director for Administrative and Financial Affairs, Ali Al-Shimiri, stated during an honorary celebration of media figures late on Saturday, that the company seeks developing its production output to reach 50,000 barrels per day by 2011, 250,000 barrels per day by 2015, and the final target is 700,000 barrels per day by 2020.
Al-Shimiri added that the company drilled several oil fields, discovering many "geological components in them in different locations."
He added, the field environment in those locations consist of high temperatures and high pressure, therefore the company is seeking latest technology to deal with such conditions.
He clarified; the KOC launched two projects, the reserve oasis "Rooh Al-Sahraa" in Burgan oil fields, southern Kuwait, with the aim of providing a refuge for local birds and desert plants in the area.
As for the second project, Al-Shimiri stated that it consists of the largest marine reserve in the Middle East, located south Al-Ahmadi, with a total area of 54,000 square meters, aimed at protecting marine life.
The company takes great responsibility towards the community, in addition to its responsibilities in the oil sector, via supporting several research centers and societies that adopt Kuwaiti life issues.
The KOC seeks an output capacity of oil of four million barrels per day by 2020; therefore it set a strategic plan for drilling, production, storage and transport.
The company also launched "huge projects", including establishing export ports and two anchorages in the waters, in addition to linking land-sea pipes to pump oil into large tankers, and adding 27 new tanks with a capacity of 620, 000 barrels each.
Al-Shimiri concluded that the KOC will soon launch the construction of gathering centre 24, north of Kuwait.
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