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FINANCIAL NEWS
Saudi-Kuwaiti JV extends bidding deadline for project
26 Sep 2010
(MENAFN) Al-Khafji Joint Operations Co (KJO), a Saudi-Kuwaiti joint venture, said that it has extended to October 11 the bidding for the construction of gas and natural gas liquids (NGL) distribution facilities at Khafji oilfield, Reuters reported.
The Khafji oilfield, located in the Neutral Zone between OPEC-members Kuwait and Saudi Arabia, has an oil capacity of around 610,000 barrels per day (bpd).
The zone produces now between 60 and 70 million cubic feet a day (cfd) of associated gas, Bader al-Khashti, the Managing Director of Kuwait Gulf Oil Co (KGOC) was quoted as saying by Kuwaiti daily newspaper al-Seyassah earlier this month.
KJO was set by Aramco Gulf Operations, a subsidiary of state oil firm Saudi Aramco, and Kuwait Gulf Oil Co (KGOC). The JV is based in Al Khobar.
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