Please Wait.....
Report
Kuwait Oil And Gas - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
Market Report I 2026-01-16 I 98 Pages I Mordor Intelligence
Kuwait Oil And Gas Market Analysis
Kuwait Oil And Gas Market size in 2026 is estimated at USD 32.49 billion, growing from 2025 value of USD 31.13 billion with 2031 projections showing USD 40.23 billion, growing at 4.37% CAGR over 2026-2031.
Robust state-backed investment, spearheaded by Kuwait Petroleum Corporation's USD 410 billion strategic program, underpins production growth while new downstream capacity improves margin capture. The upstream segment continues to dominate value creation thanks to low-cost reservoirs and a USD 30 billion five-year expansion drive. Simultaneously, the downstream pivot led by the 615,000 barrels-per-day Al-Zour refinery positions Kuwait to monetize cleaner fuels in Asian markets. A gradual digital transformation of mature fields, combined with a growing focus on zero-routine-flaring, reinforces cost competitiveness and environmental credentials.
Kuwait Oil And Gas Market Trends and Insights
USD 30 Billion Upstream Expansion Transforms Production Capacity
Kuwait's unprecedented USD 30 billion upstream program, running from 2024 to 2029, aims to increase sustainable production from 2.9 million barrels per day to 3.2 million barrels per day by 2026. Enhanced oil recovery, depletion compression systems, and drilling of 44 new rigs support this step-up, ensuring the Kuwait oil and gas market retains global relevance despite OPEC+ quotas. The initiative also extends into unconventional reservoirs, diversifying the reserve base while generating opportunities for local content expansion through rig fabrication and service provision. Accelerated tender approvals following the 2024 parliamentary suspension demonstrate improved project velocity. The program's scale illustrates the government's intent to safeguard future output even as energy transition policies gather momentum.
Al-Zour Refinery Integration Reshapes Downstream Value Capture
Reaching full 615,000 barrels-per-day capacity in early 2025, Al-Zour propels Kuwait from a crude exporter into an integrated refiner producing Euro-5 fuels and petrochemical feedstocks. Premium products destined for Asia lift netbacks and improve the Kuwait oil and gas market profit pool. Co-location with KIPIC's petrochemical complex allows naphtha and LPG optimization, while advanced process control systems enhance energy efficiency. The refinery's configuration reduces exposure to high-sulfur fuel oil and meets IMO 2020 standards, thereby widening product placement options. Al-Zour also serves as a technology showcase for future downstream investments, accelerating knowledge transfer and bolstering local workforce capabilities.
OPEC+ Compliance Constraints Production Flexibility
Kuwait contributes 135,000 barrels per day to voluntary cuts, curtailing monetization of new capacity despite favorable price signals. Revisions to supply curbs hinge on collective producer consensus, injecting planning uncertainty into upstream sanctioning. Deferred volumes erode present cash flow and complicate debt servicing for large projects. While compliance underscores Kuwait's reliability within OPEC, it exposes the Kuwait oil and gas market to external geopolitical dynamics that can override commercial logic. Investors, therefore, demand higher risk premiums for capacity additions that might remain idle under extended quota regimes.
Other drivers and restraints analyzed in the detailed report include:
Neutral Zone Revival Unlocks Offshore Production PotentialDigital Transformation Optimizes Mature Field PerformanceEnvironmental Compliance Costs Escalate Operational Expenditure
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
Upstream operations accounted for 58.10% of Kuwait's oil and gas market size in 2025, underscoring the historic centrality of crude production to national revenue. Downstream activities, although smaller, are expected to register a 5.85% CAGR through 2031 as Al-Zour scales up and petrochemical integration deepens value capture. The Kuwait oil and gas market benefits from this dual-track approach because premium fuel exports hedge against cyclical crude oil pricing. Midstream assets receive fresh capital for new pipelines and tank expansions that enhance evacuation reliability. Digitized maintenance regimes in gathering centers cut unscheduled downtime, while smart pigging programs elongate pipeline service life.
Capacity expansion in Greater Burgan intensifies upstream drilling and stimulates service contracts for directional drilling, logging-while-drilling, and artificial lift upgrades. Simultaneously, downstream unit upgrades target sulfur recovery and olefins flexibility, preparing the system for evolving fuel standards in destination markets. The KNPC-KIPIC merger consolidates logistics and procurement, driving scale economies. Upstream resilience stems from sub-$4 per barrel lifting costs, preserving competitiveness under various price scenarios. Ultimately, integration across the value chain enhances earnings stability and increases Kuwait's oil and gas market share of refined products within total hydrocarbon exports.
The Kuwait Oil and Gas Market Report is Segmented by Sector (Upstream, Midstream, and Downstream), Location (Onshore and Offshore), and Service (Construction, Maintenance and Turn-Around, and Decommissioning). The Market Sizes and Forecasts are Provided in Terms of Value (USD).
List of Companies Covered in this Report:
Kuwait Petroleum Corporation (KPC) Kuwait Oil Company (KOC) Kuwait Integrated Petroleum Industries Co. (KIPIC) Kuwait National Petroleum Company (KNPC) Kuwait Gulf Oil Company (KGOC) Kuwait Oil Tanker Company (KOTC) Boubyan Petrochemical Company Petrochemical Industries Company (PIC) Qurain Petrochemical Industries Co. (QPIC) BP plc Chevron Corp. Shell plc Schlumberger (SLB) Halliburton Baker Hughes Saipem SpA Odfjell Drilling Petrofac TechnipFMC Worley
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 Introduction
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 USD 30 billion n Five-Year Upstream Expansion Plan (2024-29)
4.2.2 Al-Zour Refinery Ramp-up Elevating Downstream Margins
4.2.3 Neutral-Zone Development Revitalising Offshore Output
4.2.4 Rising Domestic Gas Demand for Power & Desalination
4.2.5 Digital Oilfield Roll-outs (KwIDF, AI-enabled well ops)
4.2.6 In-country Pipeline/Equipment Manufacturing Initiatives
4.3 Market Restraints
4.3.1 OPEC+ Quota Volatility & Compliance Cuts
4.3.2 High Flaring-to-Zero Emissions Mandate Costs
4.3.3 Chronic Ministerial Turnover Slowing Project Sanctions
4.3.4 Water Scarcity Pressures on Enhanced Oil Recovery
4.4 Supply-Chain Analysis
4.5 Regulatory Landscape
4.6 Technological Outlook
4.7 Crude-Oil Production & Consumption Outlook
4.8 Natural-Gas Production & Consumption Outlook
4.9 Installed Pipeline Capacity Analysis
4.10 Unconventional Resources CAPEX Outlook (tight oil, oil sands, deep-water)
4.11 Porter's Five Forces
4.11.1 Threat of New Entrants
4.11.2 Bargaining Power of Suppliers
4.11.3 Bargaining Power of Buyers
4.11.4 Threat of Substitutes
4.11.5 Intensity of Competitive Rivalry
4.12 PESTLE Analysis
5 Market Size & Growth Forecasts
5.1 By Sector
5.1.1 Upstream
5.1.2 Midstream
5.1.3 Downstream
5.2 By Location
5.2.1 Onshore
5.2.2 Offshore
5.3 By Service
5.3.1 Construction
5.3.2 Maintenance and Turn-around
5.3.3 Decommissioning
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (M&A, Partnerships, PPAs)
6.3 Market Share Analysis (Market Rank/Share for key companies)
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
6.4.1 Kuwait Petroleum Corporation (KPC)
6.4.2 Kuwait Oil Company (KOC)
6.4.3 Kuwait Integrated Petroleum Industries Co. (KIPIC)
6.4.4 Kuwait National Petroleum Company (KNPC)
6.4.5 Kuwait Gulf Oil Company (KGOC)
6.4.6 Kuwait Oil Tanker Company (KOTC)
6.4.7 Boubyan Petrochemical Company
6.4.8 Petrochemical Industries Company (PIC)
6.4.9 Qurain Petrochemical Industries Co. (QPIC)
6.4.10 BP plc
6.4.11 Chevron Corp.
6.4.12 Shell plc
6.4.13 Schlumberger (SLB)
6.4.14 Halliburton
6.4.15 Baker Hughes
6.4.16 Saipem SpA
6.4.17 Odfjell Drilling
6.4.18 Petrofac
6.4.19 TechnipFMC
6.4.20 Worley
7 Market Opportunities & Future Outlook
7.1 White-space & Unmet-Need Assessment
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security