8 - Kuwait Oil Company

3rd Annual Production OptimizationMiddle East SummitFalah Al-Azmi, TL PO (WK) delivers his presentationIn a time where rising demandfor oil and gas runs parallelto the rise of hydrocarbonproduction costs, the oil and gasindustry continues to find itselfunder increasing pressure to seekinnovative ways to economicallyproduce from depleted andearly-life reservoirs. Althoughdiscovery costs have declinedby as much as 75% over thelast 20 years, development andproduction costs have as muchas doubled in the same timeframe. As a result, operators arenow changing their focus andemphasis on new methods ofprolonging the productivity ofmature fields.The 3rd Annual ProductionOptimization Middle East Summitrecently brought together globalexperts and regional leaders todiscuss and share their experiences,discuss the latest solutions andessential strategies to fully capitalizeon the potential of reserves,maximize revenues and meet theeconomy’s growing demand.As part of their efforts to stay abreastof the latest developments andbreakthroughs in the industry, and toshare their own experiences in thefield, KOC’s Production Operations(WK) and Water Handling Labs(WK) participated in the ProductionOptimization Middle East Summit onFeb 19-20, 2012 at the Hilton Resortin Mangaf.Dr. Abdulhameed Al-Hashem, theDirector of Petroleum Research &Studies Center at the Kuwait Institutefor Scientific Research (KISR),opened the event by welcomingthe visiting delegates to Kuwait andtalking briefly about KISR’s activitiesand its cooperative efforts in certain34 April-June 2012