KOC Drills 418 New Wells in 2010-2011

Source: KUNA 12/1/2011, Location: Middle East

Board Chairman and Managing Director of Kuwait Oil Company (KOC) Sami Al-Rashid said his company drilled 418 new wells in the FY 2010-2011. "The figure far exceeded the previously targeted 255 wells," a KOC report, issued here and obtained by KUNA, quoted Al-Rashid as saying.

"Thanks to the aggressive exploratory and drilling operations, the company was able to add 593,000 barrels to the daily oil output," he said. The experiment of maximum production was one of the biggest challenges, which were tackled successfully by the company in mid 2010 when the oil output hit a record high.

As for the gas production, he said the company managed during this experiment to produce the biggest possible quantity of gas. KOC's gas output topped 1.244 billion cubic feet a day, compared to the previously targeted 1.100 billion cubic feet, Al-Rashid added. KOC worked with global consultancy offices to reassess the oil reserve; the cooperation led to large increase in the reserve.

Regarding the quest for development of human resources, the company organized 2,863 training courses inside and outside the country to build the capacity of its personnel, he went on. KOC's national manpower topped 79.2 percent of the total workforce estimated at 6,807 workers, Al-Rashid added.


Colombia >>  8/8/2022 - - Average Total Production of 30,607 BOPD, Highest since Fourth Quarter 2019
- Total Average Production Up 4% from First Quarter 2022 and 33% fr...

United States >>  8/8/2022 - Mosman Oil and Gas Limited (MSMN) the oil and gas exploration, development, and production company, announces its production for the year ended 30 Jun...

United States >>  8/4/2022 - ConocoPhillips (COP) reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 bil...
Gabon >>  8/3/2022 - VAALCO Energy Inc. provided an update on the South Tchibala 1HB-ST well, as well as updated full year production guidance. ...

United States >>  8/3/2022 - Tellurian Inc. (Tellurian) (TELL) ended the second quarter with $823 million of cash on hand. During the quarter, Tellurian generated $61.3 million in...
Iraq >>  8/2/2022 - Genel Energy has announced its unaudited results for the six months ended 30 June 2022.

Paul Weir, Interim Chief Executive of Genel, said:<...


Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.