Thu 08-03-2018 21:08 PM
KUWAIT, 8th March, 2018 (WAM) -- Kuwait Oil Company (KOC) announced Thursday an initial operation of the heavy crude oil development project will be commenced in northern the country next August.
KOC will increase the project's production gradually until reaching its maximum capacity of 60,000 Barrels of Oil per Day (BOPD) as required, KOC Spokesman and Deputy CEO for administrative and financial affairs Ahmad Al-Hamad said in a press statement, carried by state news agency, KUNA.
The Lower Fars heavy oil development project is a unique and distinctive project in the company's history due to its unprecedented specifications, equipment, and facilities, he noted.
The project aims to extract heavy oil from the Lower Fars reservoir of the Ratqa oil field, which is located in the northern part of Kuwait, said Al-Hamad, adding the project is the largest construction activity in KOC's history at a cost of KD 1.3 billion (US$ 3.9 billion).
It is to be developed in phases, with the first phase expected to start in 2019 with a production rate of 60,000 bopd of oil, he said, adding a total of 1,332 different types of wells are planned to be drilled in the field due to the large area that has been targeted for development.
Oil produced from the site will be transported from the field to the South Tank Farm in Al-Ahmadi City via a new 162 km pipeline, he said, noting the project will comprise a steam injection unit, a central processing facility, two heavy oil gathering units, steam and gas pipelines, and oil and gas export pipelines.