|
| Background |
The Ministry of Energy and Kuwait Petroleum CorporationKuwait Petroleum Corporation (KPC) plans to expand oil production in the northern fields from the current 550,000-600,000 bpd to 900,000 bpd, and sustain it over a 20-30 year period. The venture was initially proposed in 1992. The project is known as Project Kuwait.
Project Kuwait envisages a consortium of International Oil Companies (IOCs) providing the investment and technology needed to exploit difficult reserves in the northern fields in order to expand production.
The project would allow IOCs to invest in upstream production in five northern oil fields, Abdali, Bahra, Ratqa, Raudhatain and Sabirya, near the border of Iraq.
It was proposed that a Kuwaiti company would be created to carry out Project Kuwait, with foreign capital from the winning consortium of IOCs limited to a 40% stake and other shares to be held by Kuwait Petroleum CorporationKuwait Petroleum Corporation (KPC) and some allocated for an IPO.
Canada's Sproule International is the PMC. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Q1 2030 |
Completion | Project was initially expected to be completed
|
|
| Latest Events |
In December 2011, the project was still on hold.
In Q1 2030, the project was initially expected to be completed. |
| Previous Events |
In January 2009, KPC was put on hold and awaiting government approval of the project.
In November 2008, ODC awarded Canada's Sproule International a two-year consultancy contract. The contract covers engineering evaluation and preparation of tender documents.
In 2005, Oil Development CompanyOil Development Company (ODC) was formed to supervise the project jointly with the Energy Ministry.
In 2003, three groups of IOCs were pre-qualified (Group led by Chevron, Group led by BP, Group led by ExxonMobil). |
| Scope of Work |
Expansion of oilfields with related facilities. |
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| 2003 |
Planning | Three groups of IOCs were prequalified (Group led by Chevron, Group led by BP, Group led by ExxonMobil)
|
| Nov 2008 |
PMC | Contract awarded to Sproule International
|
| Q1 2030 |
Completion | Project was initially expected to be completed
|
|
Standalone Project
Talk To Zawya Analyst
Download to PDF