Kuwait has announced that the phase one of the joint heavy oil refinery project with Saudi Arabia in Wafra will cost US$5bn
Ali Al-Shemmeri, CEO of Kuwait Gulf Oil Company (KGOC), said that when completed the project is expected to produce around 80,000 bpd.
The phase includes 288 producing wells — 133 injection wells, 67 observation wells and five storm water injection wells — and would require 100MW of electricity used in operating steam turbines, KUNA news agency reported.
Al-Shemmeri added that the project deal was signed in 1956.
