Kuwait begins operation at large heavy oil project – The National

Kuwait begins operation at large heavy oil project – The National

Kuwait begins operation at large heavy oil project. The Opec producer plans to raise overall capacity to 4 million bpd by 2040. Kuwait kicked off operations at a heavy oil project - the country's largest - as it looks to raise production capacity to 4 million barrels per day by 2040.. The project is located in the north of the country, the Kuwait Oil Company said in a statement, without providing additional details.. Kuwait, the fourth-largest producer within Opec, has been looking to develop the Ratqa field in the north, which was contracted to oil services firm Petrofac in 2015.. The $4.2 billion (Dh15.4bn) engineering, procurement, and construction contract for the Ratqa field that was awarded to Petrofac is expected to boost production to 60,000 barrels per day in the first phase, with plans to double capacity eventually.. Kuwait, which is part of the Opec+ alliance to restrict production revised its earlier plans to raise production capacity to 4.75 million bpd by 2040 to 4 million bpd.. Kuwait's additional heavy oil output will be fed into the country's planned 615,000 bpd Al Zour refinery, which will be the largest refinery in the Middle East when completed.. The new refinery will