Kuwait, Saudi to resume output from Neutral Zone in 2019 - Toyo Engineering
02/07/2018 08:43
TOKYO, July 2 (Reuters) -
* Japan's Toyo Engineering Corp 6330.T said on Monday that
Khafji and Hout oilfields in Kuwait's jointly operated fields in
the Neutral Zone with Saudi Arabia would resume output in 2019.
* The Japanese firm said it won a third renewal of General
Engineering Services Agreement (GESA) from Al-Khafji Joint
Operations (KJO), under which the two nations jointly operate
Khafji and Hout Oil Fields.
* By the renewal, Toyo Engineering said it is scheduled to
support
KJO until 2023 on project planning feasibility study, FEED and
technical support
* "Maximum oil production rate of the fields is 350,000
barrels
per day," Toyo Engineering said in a statement. "Due to lower
crude oil prices, the production of the oil fields was suspended
at 2014. Because of oil price recovery, KJO starts the
preparation work to re-produce oil from the fields from 2019."
(Reporting by Osamu Tsukimori)
((osamu.tsukimori@thomsonreuters.com, +813 6441 1857, Reuters
Messaging: osamu.tsukimori.thomsonreuters.com@reuters.net;))