exploration and development of new oil reserves, particularly in Jurassic, offshore, and unconventional fields, aiming to add 700,000 bpd by 2040. This proactive approach secures a robust and diverse production base for the future. KOC is also focused on developing its Jurassic gas fields, with a goal of reaching 950 million cubic feet per day of non- associated gas in the next two years, and expanding to 1.5 billion cubic feet per day by 2040. These efforts are crucial for meeting Kuwait’s growing energy needs and contributing to global supply. Heavy oil development is another strategic priority, with KOC aiming to increase capacity to 240,000 bpd by 2040. This initiative broadens KOC’s resource base and enhances its resilience in response to market conditions, ensuring competitiveness and the ability to meet future energy demands. To support these goals, KOC is making significant infrastructure investments, allocating approximately 12bn Kuwaiti Dinars over the next five years for capital projects, including the enhancement of existing facilities and drilling more than 2,500 wells. These investments are vital for managing increased water production and maintaining reservoir integrity. How important is innovation to KOC? Innovation is central to KOC’s strategy, driving our pursuit of operational excellence, sustainability, and cost efficiency. In line with KOC 2040 Strategy, Ahmed Jaber Al-Eidan, CEO of Kuwait Oil Company (KOC). 22 ISSUE 7 2024 | oilreviewmiddleeast.com Image Credit: KOC kuwait “Innovation is central to KOC’s strategy.”