Kpc Calls Consultant Recommendation In Durra Field In ‘divided Zone’ Best Option

The Board of Directors of the Kuwait Petroleum Corporation has approved the proposed submitted by the global advisor to separate the stakes of partners in the Al-Durra oilfield in the divided zone between Kuwait and Saudi Arabia calling it the best option from the technical, economic and security point of view.

Informed sources told Al-Rai daily this came after the “the partners in the divided zone chose one of the global consultants to complete a feasibility study on the available options for developing the Al-Durra field project technically and economically, as the options were reduced from 10 to 2,” indicating that “the first option is to separate the two shares from the sea, and the second from land in Khafji.

The sources stated “the consultant recommended in his final report the option of separation at sea,” saying “the board of directors of the Kuwait Gulf Oil Company (KGOC) has given nod to the recommendations of the executive management, given that the separation from land involves several technical, security and environmental risks.

The sources confirmed that “the approval of the two partners is a condition for beginning 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 option of the optimal separation, 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 indicated that the study showed that the total cost of the separation option from the sea is $5.31 billion and $5.185 billion from the land, and explained Kuwait’s share of the cost of separation from the land is $2.442 billion, and $2.322 billion from the sea.

 

 

 

SOURCE  TIMESKUWAIT

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