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RATQA OIL FIELD, KUWAIT - FEBRUARY 6: An oil pump work-over crew maintains a wellhead February 6, 2003 in the Ratqa Oil Field in northern Kuwait, overlooking the DMZ area dividing Kuwait and Iraq. An electrified fence runs the length of the border between the two countries, and an Iraqi oil well burns black smoke in the distance. The Ratqa Field produces 370,000 barrels of crude oil per day or nearly 10% of Kuwait's daily 4 million barrels. Kuwait Oil Company engineers claim Iraq is pumping water back into the underground oil wells to contaminate Kuwait's underground fields. In 1991, the Iraqi Army destroyed many of the wells and equipment of the Ratqa Oil Field during its invasion of Kuwait. (Photo by Robert Nickelsberg/Getty Images) Image used for illustrative putpose.
Kuwait-listed Combined Group Contracting Company (CGCC) announced on Thursday that it has been awarded a contract to build a pipeline to export gas from Wafra Joint Operations venture owned by Saudi Arabia and Kuwait.
CGCC said in a bourse disclosure statement that it has received a letter confirming the awarding of the project with a value of around 12.7 million Kuwaiti dinars ($42 million).
The project was awarded by the state-owned Kuwait Oil Company and is expected to be completed within 30 months, CGCC said.
In late 2022, Saudi Aramco and KOC signed a memorandum of understanding to jointly develop the Durrra gas field located in the Neutral Zone, which is shared by the two Gulf countries. The project aims to produce 280 million cubic metres of gas and around 84,000 barrels of LNG per day.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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