KUWAIT, Nov 15 (KUNA) -- Kuwait Petroleum Corporation (KPC) Chief Executive Farouq Al-Zanki explained that oil excavation remains a complicated endeavour that requires huge efforts and resources, in addition to advanced technological capabilities.

In a keynote speech, at the First Kuwait Excavation Technology Conference and Exhibition, read out on his behalf by Managing Director for Government, Parliamentary, Public and Media Affairs Sheikh Talal Al-Khaled Al-Sabah, he noted that excavation is one of the most important and vital components of the oil and gas industry.

Technological development in the excavation field lowers costs thus heightening commercial returns, which can be spent on improving wells, he said.

The rise of oil prices, in turn, affects the price of excavation technology, he noted.

He also stressed the importance of locating oil and gas fields of high quality and long-term validity.