Kuwait Oil Company (KOC) plans to dig 200 wells of heavy crude, of 600 feet depth in Al-Ratqa field, south pars, in North Kuwait, by the year 2011, according to local Kuwaiti daily Al-Watan.
The total cost of these wells would exceed US$204.3m according to sources close to the company.
“The cost of the first phase of the project will be higher than the second phase,” the source said.
The same source revealed that in the case of no companies proceeding with the drilling in Al-Ratqa field according to the development plan, the goal of increasing Kuwait’s capacity of heavy crude oil to 60,000 bpd will be delayed consequently.
