$260m cost seismic survey for Kuwaiti-Saudi zone

Kuwait Gulf Oil Company (KGOC), in cooperation with a Saudi partner, will start a seismic survey of the in-land divided zone between Kuwait and Saudi Arabia as of July, said the KGOC Chief Executive Officer Ali Al-Shammari. Speaking to reporters during the company's celebration to mark Labor Day, Al-Shammari said that the project will take two years to complete and cost up to USD 260 million. He pointed out that the project would be conducted by the global oilfield services leader Schlumberger. It would pave the way for better understanding of the nature of the zone, Al-Shammari said, noting that Kuwait has agreed with Saudi partners to extend strategic partnership in developing the zone to 2039. He went on to say that the sides would intensify joint work in the coming period to upgrade existing oilfields to help fill light oil and gas shortage as well as to increase the output of heavy oil