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KGOC & Saudi Chevron aim to double Wafra field production

Plans underway for potential merger of KGOC & KOC

publish time

14/09/2024

publish time

14/09/2024

KGOC & Saudi Chevron aim to double Wafra field production

KUWAIT CITY, Sept 14: Kuwait Gulf Oil Company (KGOC) and Saudi Chevron Company are working hard to double the production capacity of the Wafra field to reach 320,000 barrels before the end of 2028; say reliable sources who disclosed that the current production ranges from 165,000 to 170,000 barrels per day. Sources said acting Chief Executive Officer (CEO) of KGOC Abdul Wahab Al-Mazen and Deputy CEO for Joint Operations Bader Al-Munifihad earlier discussed the company’s action plan with those in charge of operations. They deliberated on all means to improve the company’s performance, sources confirmed.

Sources added the meeting also tackled the achievements of the company over the years; such as the establishment of the main lines to increase the production capacity of Khafji and Wafra fields, particularly in terms of overcoming all difficulties, especially since Kuwait Petroleum Corporation (KPC) is working hard to increase oil production in the divided zone between Kuwait and Saudi Arabia.

Moreover, sources revealed that KGOC has updated the administrative regulations and internal executive procedures by adding the incentives and rewards system for employees in Chapter Six, Item No. 15. Source said these amendments aim to motivate the national staff, considering the new executive management is keen on addressing all the problems and difficulties that Kuwaiti employees in Wafra and Khafji fields are facing.

Sources disclosed the concerted efforts of KGOC and Kuwait Oil Company (KOC) in the drilling operations in KGOC projects are part of the preliminary procedures for merging the two companies like Kuwait National Petroleum Company (KNPC) and Kuwait Integrated Petroleum Industries Company (KIPIC). Sources pointed out that using the equipment of KOC, whose long history confirms that all oil companies affiliated with the Kuwait Petroleum Corporation (KPC) are working together for the benefit of the Kuwaiti oil industry, is in line with the strategy of KPC to achieve the desired goals.

By Najeh Bilal
Al-Seyassah/Arab Times Staff