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Wednesday , December 7 2022

Recommendation to separate stakes from sea in Al-Durra field OK’d

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KUWAIT CITY, Dec 9: The Board of Directors of Kuwait Petroleum Corporation (KPC) has approved the recommendation of a global advisor to separate the stakes of the partners in the Al-Durra field in the divided zone between Kuwait and Saudi Arabia from the sea, as it represents the best option for technical, economic and security standards, reports Al- Rai daily. According to informed sources, the partners in the divided zone chose a global consultant to complete a feasibility study on the available options for developing the Al-Durra oil field in terms of the technical and economic aspects. The options were reduced from ten to two. The first option is to separate the two shares from the sea, and the second to separate from land in Khafji. In the final report, the consultant recommended the option of separation at sea.

The board of directors of the Kuwait Gulf Oil Company adopted the recommendations of the executive management and approved this option, given that the separation from land requires processing large quantities of gas and involves several technical, security and environmental risks. The approval of the two partners is a condition for starting the implementation of the study work for the initial designs and studying the engineering designs for the optimal option, which is what the company is working on to agree with the Saudi side on the optimal separation option, which will benefit both parties.

Regarding the total expected capital expenditures that the two partners will incur in terms of the available options, the sources said the study revealed that the total cost of the separation from the sea is $ 5.31 billion and KD 5.185 billion from the land, and that Kuwait’s share in the cost of separation from the land is $2.442 billion, and from the sea is $2.322 billion.

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