Kuwait Oil Company will start offering heavy crude to the global market. It is one of Kuwait’s premier oil suppliers.
According to Imad Sultan, CEO of Kuwait Oil Company, exporting heavy crude will generate good revenue for the country and will also meet the local energy demand when the Al-Zour refinery project is completed.
It is reported that in the company’s history of developments, the most challenging and complex project has been the heavy oil project in the South Ratqa field. The project has been a remarkable achievement for the company in terms of sustainability and development. It took several years for the development to be completed.
Mr. Sultan added that the heavy oil is currently produced in the Umm Naqa field in northern Kuwait. Since 2016, 15,000 barrels of heavy oil per day has been produced in the field.
The company expects production of 60,000 barrels of heavy oil per day in the South Ratqa field after the completion of Al-Zour project. The development will be considered as the first stage of the initiative where the crude will be processed at the new Al-Zour refinery to contribute to the production of low-sulfur environmental fuel and supply it to power plants in Kuwait.
Until the Al-Zour refinery project is completed, heavy oil will be sold to the global market as a lucrative commodity and contribute Kuwait’s diversification of crude oil products.