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Thursday , August 18 2022

KOC reports 392 cases of theft in nearly 3 yrs

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‘Diesel, cables, pipes stolen’

KUWAIT CITY, Nov 6: A report issued by the Audit Bureau for 2020/2021 shows between Jan 2018 and February 2021 the Kuwait Oil Company has reported 392 theft cases, reports Al-Rai daily. The KOC has reported 130 theft cases totaling 1 million liters of diesel, and if calculated at a subsidized price of 55 fils, the estimated amount is about 35,667 dinars, and if calculated at the official price, it is 55,000.

The report added that the theft of electric cables during the same period (164 thefts) was about 276,300 dinars, including cables linked to production centers and oil well sites, which led to the suspension of production. The report estimated the average loss resulting from the suspension of production in southern and eastern Kuwait from September 2020 until December 2020 was at about $17 million, due to the theft of electric cables and the suspension of production at many wells. The sources pointed out 16 cases of pipe thefts of different sizes and lengths were monitored, worth 32,500 meters, at a value of 333,500 dinars, this is in addition to other financial losses incurred by the company due to these thefts, including the costs of connection, delivery, painting, reprogramming and control systems and linking them to the approved financial systems. .

For its part, the Kuwait Oil Company said it succeeded in arresting suspects in more than 25 theft cases in coordination with the concerned authorities to monitor vital facilities and inspection procedures to enhance the level of security. The company pointed out that there are special technical committees to review security incidents and their causes and set the necessary controls to avoid them in the future, and determine the responsible party in the company to implement these recommendations, noting that most thefts are in remote locations outside the company’s security fence and are dealt with within the legal frameworks and procedures in force and in coordination with the security authorities. However, the KOC says most of the stolen electrical cables belong to contractors, and most of these wells fall in the ‘depleted’ category

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