Kuwait has invited five major oil companies, namely BP, Chevron, ExxonMobil, Shell and Total, to develop some of its oil fields, as part of the Gulf country's plan to reach a crude oil production of 3.5 mb/d in 2015 and 4 mb/d in 2020. Kuwait's current oil production averages 3 mb/d, of which two thirds are exported. The state-owned Kuwait Oil Co. (KOC) would partner with an international company to develop the Burgan oil field, estimated to be the second largest worldwide: companies will be invited to bid for the development of the field and other oil fields in North Kuwait. Parliamentary opposition to foreign participation in crude oil production has long delayed production projects.
Kuwait aims to boost oil production in the northern areas: the Ratqa field near to the Iraki border, is expected to start production in 2018-2019 (first phase) at a pace of 60,000 bbl/d and to ramp up to 120,000 bbl/d by 2025. Crude oil production in North Kuwait would then increase from 700,000 bbl/d in 2013 to 1 mb/d by 2017-2018.