This week’s MEOG covers Kuwait’s plans to ramp up drilling operations as it seeks to expand crude production, while
State-owned
A company source was quoted as telling the local Arabic language Aljarida daily that KOC would drill an extra 300 wells per year over “the coming period”, taking the annual total to 700.
He said that the drilling campaign would come as part of a
The source noted that KOC is also planning to begin exports of crude oil once production allows, with current output running at around 60,000 bpd.
Heavy crude is produced under the
Output from the two fields under the project reached a first phase plateau capacity of 75,000 bpd following the start of operations in
Meanwhile, Aramco is reported to be considering two major changes to its approach to gas development as the company moves to target a leading role in the gas, chemicals and hydrogen markets.
Over the past week, sources speaking to Bloomberg have said that Aramco is changing the structure of its gas business while mulling bringing in outside help to develop its main unconventional gas asset.
Gas development is a core strategic concern in Dhahran, with Saudi consistently burning 700,000 bpd or more of crude during August each year to generate enough electricity to cater to peak demand as air-conditioning use spikes. Replacing this with gas could provide Aramco with more than
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