Kuwait Gulf Oil Company posts high results in 2014

Kuwait Gulf Oil Company (KGOC) has achieved distinguished operational results at all sites in 2014, with a 52 percent fall of gas flare, CEO Ali Al-Shammari said on Wednesday.
The rate of average in the steam injection project of the First Eocene reservoir at Wafra field was estimated at 1,630 oil barrels per day, Al-Shammari told KUNA. The average injection reached 7,200 barrels of steam equivalent.
In addition, the company is working on the engineering studies of the third phase of the operational steam immersion project at the Second Eocene reservoir. Up to 84 new wells have been dug and other 151 ones were developed.
Meanwhile, KGOC and WesternGeco Company have signed a contract for the largest three-dimension seismological survey in the country, in the joint area with Saudi Arabia, Al-Shammari said. The project is expected to be completed by 2017.
KGOC, Kuwait National Petroleum Company and Kuwait Oil Company inked a MoU to transfer about 40 million cubic feet of associated gas a day from Khafji.
Al-Shammari noted that gas exported by Kuwait Oil Company from Al-Wafra rose 14.5 million cubic feet of gas per day.
He stressed that KGOC sets criteria of health, safety, security and environment as a top priority, noting that gas flare rate dropped by 52 percent, from previous 66.
A unified system of reserve management was applied at the fields of Wafra and Khafji to cope with that of the Kuwait Oil Company, Al-Shammari pointed out.