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FINANCIAL NEWS
Schlumberger opens $2m facility in Al-Khafji
23 Jun 2010
(MENAFN) Schlumberger Limited, the world’s leading oilfield services company, announced that it has launched a new oil facility covering an area of 20,000 square meters in the ex-neutral zone of Al-Khafji between Kuwait and Saudi Arabia, Reuters reported.
The project involves investments of up to $2 million, according to a press release issued by the company. It aims to supply technology, information solutions and integrated management that optimize oil exploration and production in the area shared by the two Arab Gulf countries.
It will meet the needs of joint exploitation by Kuwait Gulf Oil Company (KGOC) and the Saudi Aramco in Al-Khafji, located in the southern part of the ex-Neutral Zone and on the far northeastern tip of the Kingdom of Saudi Arabia facing the Arabian Gulf, some 300 km. northward Dammam City in the Eastern Province and 130 km to the south of Kuwait City.
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