Kuwait Oil Company Inaugurates Major Oil ProjectThe state-owned Kuwait Oil Company (KOC) Sunday officially inaugurated a major oil gathering center with a production capability of 210,000 barrels per day (bpd).The project, or GC28, was one of the two oil gathering centers that have been constructed by China Petroleum Engineering Construction Corp. (CPECC) for the KOC in west Kuwait. The other gathering center, or GC27, with an production capacity of 190,000 bpd, was completed and commissioned last January. GC27 and GC28, which cover an area of about 500,000 square kilometers respectively, are currently the two largest of such facilities built in West Kuwait, and also the largest oil gathering centers in Kuwait. They are equipped to process both medium and light crude as well as gas and gas condensate. The KOC, an affiliate to Kuwait Petroleum Corporation (KPC) and in charge of the country's oil exploration and production, has said that GC27 and GC28 are of "enormous importance to the company as they will contribute towards our target in West Kuwait of 500,000 bpd and provide the KOC with strategic flexibility and diversity." "As part of our overall oil strategy, GC27 and GC28 will help us realize the production capacity target of 3 million bpd" by the year 2005, the company said. Kuwait, which holds about 10 percent of the world's total crude reserves, currently has a production capacity of some 2.5 million bpd. |
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