Kuwait has announced that it is targeting an increase in oil production to 2 million barrels per day within a week, coinciding with the reopening of the Strait of Hormuz under the peace agreement between the United States and Iran.
Sheikh Nawaf Saud Al Sabah, Deputy Chairman of the Board and Chief Executive Officer of Kuwait Petroleum Corporation, said in a statement carried by the Kuwait News Agency that a return to pre-war production levels could be achieved within weeks, provided that regular international commercial shipping to Kuwaiti ports resumes.
He confirmed that the Kuwaiti oil sector has managed to carry out substantial repairs to damaged energy infrastructure, enabling productive capacity to be restored at a faster pace than previously estimated.
He added that the Corporation will lift all force majeure notices issued during the war period with immediate effect, a step that reflects the sector's readiness for a gradual return to normal operational activity and the resumption of supplies in accordance with approved plans.
He affirmed the Corporation's full commitment to cooperating with its customers and partners around the world to ensure a smooth and effective transition to full contractual volumes, in line with existing obligations and agreements.