Luaibi: Iraq to supply gas to Kuwait soon
KNPC OFFERS OIL DEPOT STUDY TO BIDDERS IN JUNE
BAGHDAD/KUWAIT: Iraq will complete soon a project for supplying gas to Kuwait in line with an earlier agreement hammered out between both sides, Iraqi Oil Minister Jabar Al-Luaibi said yesterday. The minister made the remark during the third Iraq Energy Forum held in Baghdad between April 2-3, lauding good cooperative relations between Iraq and Kuwait. “Iraq will supply around 200 million cubic feet of gas to Kuwait on a daily basis in the context of good cooperative relations between both countries,” Luaibi addressed the two-day forum.
The Iraqi minister also unfolded Iraqi-Iranian talks on a partnership agreement pertinent to the production of joint border oilfields. He added that his country has invested 1.4 billion cubic feet of gas a day in 2017, compared with 650 million cubic feet last year.
Held under the title ‘Towards an Effective Energy Sector and Economic Diversity,’ the Iraq Energy Forum allows people connected to energy industry to discuss the challenges and opportunities of the Iraqi energy sector in a cordial yet focused environment.
Oil depot project
In other news, Kuwait National Petroleum Company (KNPC) is expected to offer the initial study for the $400 million Al-Mutlaa oil depot project for bidders in June, KNPC’s Deputy CEO for Administrative and Commercial Affairs Basem Al-Essa said yesterday.
The project is to be completed in four years’ time, including bidding, assessment, approvals and construction, Essa told the third session of the Consultation Partnership Advisory Council (CPAC) on behalf of the KNPC’s CEO. He added that the company is hard at work to achieve the strategic vision of the Kuwait Petroleum Corporation (KPC) for supporting the national economy through offering the opportunity to the local private sector to act as a chief contractor in the state’s grand projects.
The KPC has allocated several activities for the private sector to take part in such as the plant for mixing oils, in addition to establishing 19 fuel stations, out of a total of 100 ones to meet the needs of the urban expansion in Kuwait, Essa said. He stressed the importance of establishing partnership with the local private sector, manufacturers, contractors, suppliers and consultants for the good of all. According to the statement, the KNPC has tasked its affiliate companies with six strategic initiatives for increasing the local components on the oil sector.