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Friday , November 27 2020

KOC develops 3 new fields

KUWAIT CITY, Aug 17: The Kuwait Oil Company (KOC) has made great strides in developing 3 new fields in the western region of Kuwait, namely the fields of ‘Umm Rass’, ‘Kara’a Al Marw’ and ‘Kabd’, and said the three fields are on the production track.

The oil sources told the daily, despite the difficulties facing the global economy as a result of the outbreak of corona, the Kuwait Oil Company has finally culminated in its efforts in the field of free gas production by obtaining approval to float a tender to build and operate two ‘new’ Jurassic production units, which will enable Kuwait upon operation to reach free gas production capacity of 850 million cubic feet per day, and the production of approximately 250,000 barrels per day of light crude, which is an unprecedented number in the history of Kuwait.

The sources pointed out that the oil sector continues to make efforts to secure Kuwait’s oil future over the coming years, especially since the current crisis has affected the economies of all countries in general and oil companies in particular, and the most successful are those who are ready to take advantage and transform these conditions into valuable opportunities.

The sources stated to al rai daily, among the KOC achievements is the increase in free gas production and reaching higher rates that have contributed to meeting the needs of the local market despite the reduction in oil production as a result of the recent OPEC agreement, considering that the historic joint agreement between Kuwait and Saudi Arabia regarding the resumption of production and export operations in the divided zone after a halt to operations for about 5 years.

This is one of the most prominent features of the recent achievements of the oil sector, as the Kuwait Gulf Oil Company was able to increase production capacity, striving to reach the pre-closure level during the coming period as soon as possible

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