Al-Zour oil refinery to be completed by 2019 – Project will secure 1,500 jobs for Kuwaitis

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KUWAIT CITY, April 9, (KUNA): The key project of building Al-Zour oil refinery is forecast to finish by December 2019, a senior official said on Monday. Up to 57 percent of the vital venture has been accomplished, said Dr Khaled Mahdi, Secretary General of the Supreme Council for Planning and Development, in a statement to journalists while inspecting the project site.

This project, valued at KD 4.8 billion ($16 billion), along with two simultaneous ventures, executed for Kuwait Integrated Petroleum Industries Company (KIPIC), will secure 1,500 jobs for citizens, he added. Al-Zour refinery venture is designed to produce clean fuel for the power ministry, in addition to kerosene and diesel for the local market — productivity projected at 615,000 barrels per day. For her part, Suad Al-Awadh, in charge of planning at KIPIC, said the project served the higher objective — diversified economy.

Meanwhile, Kuwait Oil Company (KOC) completed two production centers (numbers 29 and 30) with a capacity of about 100,000 barrels daily each, after years of planning in line with 2040 strategy of Kuwait Petroleum Corporation (KPC), reports Al-Rai daily quoting sources. Sources told the daily that this is a new and important move aimed at increasing the company’s capability to raise energy production in North Kuwait from 700,000 barrels to one million barrels per day upon completion of the third center (number 31).

Sources said the returns of vital mega projects are considered a huge and significant addition to the capability of KOC, pointing out that the average annual returns of these centers based on current oil prices are estimated at $1.8 billion per center.

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