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Kuwait Oil and Gas Report Q1 2013 - Product Image

Kuwait Oil and Gas Report Q1 2013

  • Published: January 2013
  • Region: Kuwait
  • 77 pages
  • Business Monitor International

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BMI View

Kuwait is set to experience a steady rise in oil output, reaching 3.6mn barrels per day (b/d) by the end of our forecast period in 2021, largely on the back from increased recovery from existing fields.

However, over the same period, rising consumption will limit some of the gains in overall output. This is particularly true in the case of gas production, where despite an increase in domestic production to some 19.3bn cubic metres (bcm) by 2021, Kuwait will remain a net importer of gas as consumption continues to rise.

We highlight the following trends and developments in Kuwait's oil & gas sector:

BMI forecasts Kuwaiti oil production to rise from an estimated 2.6mn b/d in 2011 to 2.9mn b/d by 2016,
then over 3.6mn b/d by 2021. Northern oilfields, increased recovery of heavy oil, and efforts to maintain production at existing fields will underline the steady gains in output over our forecast period. Kuwait is also targeting additional output from new exploration, these volumes are more uncertain.

BMI Industry View 7

SWOT 9

Industry Forecast 10

Oil And Gas Reserves 10
Table: Kuwait Proven Oil & Gas Reserves And Total Petroleum Data, 2011-2016 10
Table: Kuwait Proven Oil & Gas Reserves And Total Petroleum Data 11

Oil Supply And Demand 12
Table: Kuwait Oil Production, Consumption And Net Exports, 2011-2016 12
Table: Kuwait Oil Production, Consumption And Net Exports, 2016-2021 13

Gas Supply And Demand 16
Table: Kuwait Gas Production, Consumption And Net Exports, 2011-2016 16
Table: Kuwait Gas Production, Consumption And Net Exports, 2016-2021 17

LNG 20

Refining And Oil Products Trade 20
Table: Kuwait Refining - Production And Consumption, 2011-2016 20
Table: Kuwait Refining - Production And Consumption, 2016-2021 20

Revenues/Import Costs 22

Key Risks To BMI's Forecast Scenario 22

Industry Risk Reward Ratings 23

Country Risk/Reward Ratings 23

Kuwait Upstream Rating 23

Kuwait Downstream Rating 23

Regional O&G Risk Reward/Ratings 23
Table: Oil & Gas Risk/Reward Ratings 25
Table: Middle East Downstream Oil & Gas Risk/Reward Ratings 28
Table: Middle East Upstream Oil & Gas Risk/Rewards Ratings 29

Market Overview 31

Kuwait Energy Market Overview 31

Overview/State Role 32

Government Policy 32

Upstream 33

Downstream 34

International Energy Relations 35
Table: Upstream Projects Database 37

Oil & Gas Infrastructure 38

Oil Refineries 38
Table: Refineries In Kuwait 38

Service Stations 41

Oil Storage Facilities 41

Oil Terminals/Ports 41

Oil Pipelines 41

LNG Terminals 42

Gas Pipelines 42

Gas Booster Stations 42

Competitive Landscape 44
Table: Key Kuwaiti Oil & Gas Sector Players 44

Company Profile 45

Kuwait Petroleum Corporation (KPC) 45

Kuwait National Petroleum Company (KNPC) 49

Chevron 51

Other Companies - Summary 53

Regional Overview 54

Regional Energy Market Overview 54

Iraq: Abundance of Risk, Abundance Of Potential 54

Proven Producers Invest To Lift Output 55

Gas Rises, But Consumption Does Too 57

Uncertainty In Tehran 59

Global Industry Overview 60

Global Energy Market Overview 60
Table: Global Oil Demand Forecasts - A Comparison 63

Inflection point 63

New Frontiers In Production 64

Appendix 68

Middle East - Regional Appendix 68
Table: Oil Consumption, 2009-2016 ('000 b/d) 68
Table: Oil Consumption, 2014-2021 ('000 b/d) 68
Table: Oil Production, 2009-2016 ('000b/d) 69
Table: Refining Capacity, 2009-2016 ('000 b/d) 70
Table: Refining Capacity, 2014-2021 ('000 b/d) 70
Table: Gas Consumption, 2009-2016 (bcm) 71
Table: Gas Consumption, 2014-2021 (bcm) 71
Table: Gas Production, 2009-2016 (bcm) 72
Table: Gas Production, 2014-2021 (bcm) 72
Table: Net LNG Exports, 2009-2016 (bcm) 73
Table: Net LNG Exports, 2014-2021 (bcm) 73

Glossary 74
Table: Glossary Of Terms 74

Methodology 76

Energy Industry 76

Cross checks 77

Sources 77

Company Profile
Kuwait Petroleum Corporation (KPC)
Kuwait National Petroleum Company (KNPC)
Chevron
Other Companies - Summary

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