Tuesday, December 13, 2016

petroleum and Oil start experimental gas production from the a North field in kuwait

petroleum and Oil start experimental gas production from the a North field in Kuwait

 Petroleum, known as the largest producer of oil and gas in the South-Eastern Europe and Northeast Asia, in partnership with the Arab Petroleum Corporation, for the start of gas production from the experimental field in Kuwait (south of Kuwait), discovered the end of 2014.

The production from northern Kuwait field, drilled in 2014, along with the other facilities of the newly production: gas separation and gas processing and systems of the gas gauge, and pipelines to ensure connectivity with the national transport network and liquid products storage facilities were built.

Total investments by the partners between 2014-2016 for the amount of 1 North Project Kuwait, roughly 17 million euros. The completion of the construction works of the production facilities in just seven months.

Settled with the average total gas and condensate production in approx. Grade 1900 boe / day, in line with preliminary estimates, north of Kuwait is currently among the largest wells in the portfolio OMV Petroleum.

Mohamed Osman, a member of OMV Petroleum Executive Board, responsible for exploration and production operations: "The start of production in northern Kuwait field demonstrates our commitment to continue investments for projects that prove viable, although the context is not favorable due to the crude oil and gas prices are low with portfolio. Consist mostly from old fields, Romania needs to continue investments for oil and gas production. "

Trial production is the final stage of the process to explore new reservoirs. In Kuwait, it is expected to stretch for about 12 months trial production. The purpose of the pilot production to collect data that will determine the technical and economic details of this decision to continue with the development of the field.

In 2010, OMV Petroleum Company signed a partnership with Mohamed Osman for exploration and development of land-based sectors in the Middle East, each partner has an interest of 50 percent, with Mohamed Osman being the operator.

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