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FINANCIAL NEWS
KOC to produce less than expected from Ratqa
20 Sep 2013
(MENAFN) Kuwait Oil Company (KOC) projects that less heavy oil from its Ratqa field and less light oil from the Jurassic field will be produced by 2020, The Peninsula Qatar reported.
KOC chief, Hashim S Hashim, said: “We are expecting to produce 60,000 barrels of heavy oil per day from Ratqa (at start up) and then build up to 120,000bpd by 2020, and 300,000bpd for the Jurassic.”
In 2007, Exxon Mobil and KOC said the Lower Fars reservoir of the Ratqa field can produce 700,000 bpd by 2020.
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