MPs urge govt to remove hurdles to start operation at Al-Durra field
Bid to stop borrowing, cope with budget deficit
KUWAIT CITY, April 4: A number of MPs urged the government to remove all obstacles in the launch of production at Al-Durra gas field in coordination with Saudi Arabia and to start mega projects that will result in profits worth billions, which will help in coping with the budget deficit, and stop Kuwait from resorting to borrowing, reports Al-Rai daily.
MP Safa Al-Hashim affirmed that the development of the joint Durra field between Kuwait and Saudi Arabia will have a positive impact on the two countries in terms of financial benefits.
She said she hopes the production in this gas field will be revived in accordance with new rules and agreements that will produce the desired benefits, especially since the relationship between the two countries is strong and at the highest level.
She also expressed hope that the coming days will witness meetings that will play a role in ending the suspension of production, calling for an appropriate consensus and understanding that will benefit the two parties, accompanied with start of processing the wells until production is revived.
MP Al-Hashem insisted that the development of the gas field based on clear plans and agreement between the two countries will have a direct impact on the economies of Kuwait and Saudi Arabia, adding that it will represent the launch pad of large projects that will contribute to dealing with any deficit in the budgets of the two countries.
Meanwhile, MP Khalil Al-Saleh said he wishes the development of Durra gas field will bring about an increase in the rates of Kuwaiti gas, which will in turn lead to higher revenues and reduce the budget deficit.
He affirmed that the revival of production in the joint region would restore the previous oil power, as well as its important return on the state’s financial solvency.
MP Al-Saleh said he is hoping for a consensus between the two countries for the return of financial benefits to both parties and contribution
KOTC CEO Sheikh Talal Khaled Al-Ahmad Al-Sabah received the award KOTC won in ports and marine infrastructure development.
Kuwait Oil Tanker Company (KOTC) announced Wednesday it won an international award in ports and marine infrastructure development. KOTC won the award while taking part in the Port and Marine Infrastructure Forum, organized by Global Infrastructure Congress.
The event was held between April 2 and 3 in Dubai, UAE under the auspices of Emirati Infrastructure Minister Abdullah
to the development of projects.
Furthermore, MP Osama AlShaheen said he hopes the relations between Kuwait and Saudi Arabia will be prosperous, and aim to achieve progress and development.
He stressed that the most important relations between Kuwait and Saudi Arabia, besides common destiny, customs, religion, challenges, hopes and kinship, is economic cooperation, especially when dealing in the oil field.
MP Al-Shaheen said, “The news we received about the divided zone is encouraging in terms of removing the problems and difficulties in the joint production”.
He indicated that he hopes the Al-Nuaimi.
Winning such a significant award is a great achievement that adds to KOTC’s multiple international accomplishments, the company said in a press statement.
For his part, KOTC’s CEO Sheikh Talal Khaled Al-Ahmad Al-Sabah said the award embodied the company’s commitment towards its responsibilities as national carrier and strategic partner to Kuwait Petroleum Corporation
production wheel will return to stability so that there will be a joint production that would increase the shares produced by Kuwait and thereby increase revenues, particularly since an increase in oil prices was recorded in the recent weeks.
Also, MP Saleh Ashour lamented that the silence of Kuwaiti government and its neglect in restoring production in the joint oil fields, as well as lack of agreement on AlDurra joint gas field will not solve the issue but will only complicate it further and lead to loss of billions of dinars which are supposed to be directed to development.
He said the international and regional conditions are favorable to (KPC).
It also proved the company’s implementation of the highest standards and systems of quality inside its efficient and durable marine facilities and manufacturers, said KOTC’s CEO.
Sheikh Talal Al-Khaled dedicated the global award to all KOTC’s staff, commending their faithful efforts and tireless work in hoisting Kuwait’s name high at international events. (KUNA)
open these subjects and ensure understanding with the brotherly and friendly country in order to achieve the interests of the country.
In addition, MP Ahmad Al-Fadhl said oil revenues represent the only major source of revenues for the state, “especially at a time when the government is on the verge of borrowing KD 25 billion to deal with the deficit in the general budget”.
He called on the government to move more effectively and intensify its talks for re-operation of the joint oil fields, as well as the Durra gas field project, especially since there are countries that rely entirely on gas sales, which makes it an important source of income.