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www.kockw.com
New Solutions for the Energy Balance in Kuwait
Sami Al-Rushaid
Chairman & Managing DirectorKuwait Oil Company
Kuwait Oil & Gas Summit– February 2012Kuwait
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Kuwait is expected to see further increases in energy demand over the next twenty years
Strong increase in energy demand expected through 2030 Power demand is highly seasonal, peaking during summer Several sources of fuel will be needed:
Associated gas from additional oil production Non associated gas from new reservoirs Low sulphur fuel oil from heavy oil and new refinery Additional seasonal LNG imports
2005 (a) 2010 (a) 2015 2020 2025 2030
2628
3439
4349Primary Energy Demand Growth
MTOE
Annual Growth Rate
2005 - 2010 = 1.5 %
2010 - 2030 = 2.8 %
Sources: BP Statistical Review – IEA World Energy Outlook 2011
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• Reach 3.5 MMBOPD by 2015• Reach 4.0 MMBOPD by 2020• Maintain 4.0 MMBOPD through 2030
Maximize the Strategic
Value from Oil
• 1.2 BSCFD by 2015• 1.7 BSCFD by 2020• 2.2 BSCFD by 2025• 2.5 BSCFD by 2030
Realize the Potential of
Gas
Oil & Gas Production Strategic Objectives for KOC
What is KOC Contribution to BalanceKuwait’s Energy Demand?
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Maximize the Strategic Value from Oil
2010201120122013201420152016201720182019202020212022202320242025202620272028202920300
500
1000
1500
2000
2500
3000
3500
4000
Develop Heavy Oil production in North Kuwait
Focus on optimizing recovery through primary, secondary techniques
Incorporate new production from exploration
Develop EOR capabilities before 2020 to ensure production can be ramped up
KOC Oil Production Profile
3
MBOPD
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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20300
500
1000
1500
2000
2500
Production Optimization
Heavy Oil
Oil from New Reservoirs, Production Optimization and Heavy Oil Development are Key for Growth
KOC Production Profile
Oil from new reservoirs
MBOPD
4
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Realize the Potential of Gas
The discovery of nearly 35 trillion SCF of free gas has triggered ambitious targets for its development
Associated gas production will also increase with oil production targets
KOC is set to produce 4.0 BSCFD of gas by 2030, of which 2.5 BSCFD will come from non-associated gas fields
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Technology applications will be critical to optimize oil & gas production from existing and new reservoirs
Wara Waterflood Pilot
ESPs and VSDs
Multi port selector valve
Multilateral wells
High resolution seismic
Horizontal / Multilateral wells
Electric Submersible Pumps and Variable Speed Drivers
Multi-Port Selector Valves
Waterflood projects
Integrated Digital Fields
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Drilling multilateral wells will significantly contribute to production optimization
First two multilateral wells drilled in S&EK, providing larger access to reservoir from one hole
Both wells have a total potential of 8000 bopd
Six horizontal well pilots were successfully implemented in NK for heavy oil development
Under evaluation their use to produce heavy oil, together with steam injection
MG-0238
BG-0651
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Kuwait Integrated Digital Fields
Kuwait Integrated Digital Field initiative will allow KOC to optimize its production by
Improving the flow of data and information
Allowing more accurate and speedy decision making
This initiative will allow to increase our production by 7%
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Developing Heavy Oil Production Capacity
We expect to increase our Heavy Oil production to 60 MBOPD by 2016, and to 270 MBOPD by 2030
Extensive pilots with Cyclic Steam Stimulation are in place
Production with horizontal wells is also being piloted, providing opportunities for field development using both vertical and horizontal wells
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Liquefied Natural Gas: The Seasonal Gap Filler
Over next two decades, scenarios suggest seasonal summer surplus on global LNG supplies
KPC is analyzing several supply options from different countries
Kuwait has been receiving LNG supplies on ad-hoc basis
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Conclusions
Primary energy demand will continue growing in Kuwait. Scenarios indicate that a strong annual growth of 2.8 % can be expected through 2030
Several sources of fuel will needed to supply energy needs, including gas, fuel oil and seasonal LNG imports
KOC have a clear roadmap in place to supply Kuwait’s energy needs
New technologies are currently under implementation to ensure such supply of fuel needs
Seasonal LNG imports may be needed during peek energy demand during summer
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