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Ministry of Oil: Amendments made to the rehabilitation contract of the ninth exploratory area in Basra
Wednesday, 30 September 2015 14:25
The Director General of the contracts and licenses Department , Abdul Mahdi al-Amidi said in a statement received by Shafaq News, that the First Amendment guarantees the sale of 10.% Share of Kuwait Energy Company to the Egyptian Petroleum Authority and thus share KEC become 60% within the wining coalition by the qualification of the exploratory area in the fourth petroleum licenses session.
He added that the second amendment to the contract ensures a long-term program of the well, which was drilled in the exploration area , which is hoped to produce (5) thousand barrels per day as a result , the company's receivables will be determined.
The contract to develop the ninth exploratory area has been won by Kuwait Energy coalition and Oil Dragon within the fourth round of licenses.
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Wednesday, 30 September 2015 14:25
The Director General of the contracts and licenses Department , Abdul Mahdi al-Amidi said in a statement received by Shafaq News, that the First Amendment guarantees the sale of 10.% Share of Kuwait Energy Company to the Egyptian Petroleum Authority and thus share KEC become 60% within the wining coalition by the qualification of the exploratory area in the fourth petroleum licenses session.
He added that the second amendment to the contract ensures a long-term program of the well, which was drilled in the exploration area , which is hoped to produce (5) thousand barrels per day as a result , the company's receivables will be determined.
The contract to develop the ninth exploratory area has been won by Kuwait Energy coalition and Oil Dragon within the fourth round of licenses.
[You must be registered and logged in to see this link.]
