Kuwait cancels plans for Jurassic gas projects
Kuwait, an OPEC member, has canceled plans for expansion of two Jurassic gas projects worth US $2 billion in the Northern oil-rich areas of the country, in a move as part of its policy to cut expenditure in the hydrocarbon industry that has been affected by the pandemic.
The news has been carried by the Arabic daily Alanba, citing "responsible sources" that the state owned Kuwait Oil Company has stopped expansion of the two Jurassic 6 and 7 projects with a total capacity of 300 million cubic feet per day (cf/d).
“KOC decided to cancel those projects as part of spending rationalisation plans and opt instead for expansion of the existing facilities,” Alanba said.
The expansions would have enabled the company to reach targeted free gas output capacity of 950 million cf/d in 2023, said the newspaper.
No one has confirmed this report from KOC. Previously the company received from both Chinese and local firms.
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