OPEC oil producer Kuwait intends to allocate an additional $200 million for a project to expand Jurassic gas facilities in its Northern region close to the border with Iraq, a local newspaper reported on Sunday.
Kuwait, one of the world’s largest oil exporters, awarded a $377-million contract for the development of Jurassic gas at its ‘West Al-Rawdatain’ field nearly four years ago to the Kuwaiti Septco International Petroleum Company.
The state-owned Kuwait Oil Company (KOC), which manages the upstream sector, is planning to expand that contract for further development of gas installations at the field, the Arabic language daily Alanba said.
It quoted “responsible” oil sources in Kuwait as saying the project is designed to boost gas output to 100-120 million cubic feet per day and 40,000 bpd of crude oil. It noted that KOC had awarded three contracts in the “West Al-Rawdatain” Jurassic gas project, including one to Septco and two to Schlumberger of the US.