koc launches 12bn tender to produce heavy crude oil
Last Updated : GMT 02:09:47
Arab Today, arab today
Arab Today, arab today

KOC launches $1.2bn tender to produce heavy crude oil

Arab Today, arab today

Arab Today, arab today KOC launches $1.2bn tender to produce heavy crude oil

Kuwait - KUNA

Kuwait Oil Co. (KOC) plans to launch a tender later this year for the construction of facilities to produce heavy crude oil at a cost of up to KD 1.2 billion (USD 4.2 billion), the company\'s CEO Hashem Hashem said. The entire tender will be awarded to one single international contractor whose task will be to construct facilities to process heavy crude oil, to build pipelines, and to facilitate the exporting of that oil from the Fourth Refinery, said Hashem, on the sidelines of an oil conference being held here. He told reporters that the wisdom behind using one contractor was that the latter will be entirely responsible for the whole project from beginning to end, and no one else. He said that raising Kuwait\'s oil productivity level involved extensive constructions of facilities to store oil, gas, water and of power plants and exportation facilities in addition to drilling new wells. He further said that Kuwait\'s current production was about 3 million barrels a day. OPEC secretary general Abdullah al-Badri, attending the same conference here on oil and gas, the first of its kind hosted by Kuwait, said that current world oil prices were fair for both producers and consumers. He expected that the rancor between the US president and the congress will soon pass and that, at any rate, oil prices will not plummet below USD 80. On the possibility that shale oil and gas may sooner or later affect the price of oil, he said \"this new source of energy would not impinge on the price of crude oil,\" expecting that shale oil production might peak in 2018, with the daily production of four or five million barrels a day, but thereafter it was liable to decrease. OPEC countries meanwhile would not be affected by this, he assured. He did not reveal any intention of production spikes by OPEC in the short run and sounded sanguine about the relaxing of tensions between Iran and the US, noting that this would reflect positively on the oil markets, since Iran is a major oil producer and possess sizable oil reserves. He also sounded optimistic about the Libyan oil production, saying the crisis regarding it was on its way to resolution, noting that Libya has large oil reserves and skillful cadres of oil workers

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

koc launches 12bn tender to produce heavy crude oil koc launches 12bn tender to produce heavy crude oil

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

koc launches 12bn tender to produce heavy crude oil koc launches 12bn tender to produce heavy crude oil

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday