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Baker Hughes: Projects in Kuwait will Boost Value Added Oil

Source: KUNA 10/19/2017, Location: Middle East

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Oil projects currently carried out in Kuwait would promote value added to oil industry in the country, Sufyan Knoon, Regional Manager of Baker Hughes in Gulf and Turkey, said. Speaking to KUNA on the sidelines of the 3rd Kuwait Oil and Gas Show and Conference (KOGS 2017), Knoon said Kuwait has a positive vision and is a country where oil projects have been greatly growing.

He added this would help Kuwait to achieve its strategies aiming to produce four million barrels per day. He referred that Baker Hughes, owned by a General Electric company (BHGE), and other companies operating in the country are cooperating with Kuwaiti national oil firms so as to achieve integration to reach the aspired goals.

BH is providing expertise and digital solutions to the Kuwaiti oil companies that help manage activities safely, he said. Meanwhile, Emad Al-Ajmi, head of oilfields services at BH, told KUNA that there is cooperation between BH on one hand, and the Kuwait Oil Company as well as the Kuwait Petroleum Corporation and its affiliates on the other to carry out big projects, which need developed technology and expertise.

Kuwait's oilfields are old tracing back to 1936, thus they face some challenges, but the company provide solutions to overcome such matters, he noted. The cost of producing one barrel of the Kuwaiti oil remains low, he stated, referring that the low prices of oil at the global markets affected activities of several companies across the globe.

He pointed out that BH and GE have been working for more than 100 years in oil industry in about 120 countries. They have about 70,000 employees and been working in Kuwait for 40 years.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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