The Kuwait Oil Company has made a record jump in drilling (developmental and exploration) wells during the past five years, reports Al-Anba daily quoting an official source.
The KOC disclosed the company has drilled 2,482 wells whose cost was 3.4 billion dinars.
The source said the plans for the development of oil reservoirs at the KOC are subject to regular periodic reviews that guarantee the good performance of the reservoirs and at the same time ensure the maintenance of the oil flow.
The source pointed out the average cost of drilling a single well is about 1.5 million dinars.
Giving a breakdown the KOC said the company drilled 444 wells for crude oil and gas during the past financial year in all areas of the company’s operations through the use of 108 drilling rigs and well maintenance (65 drilling rigs and 43 drilling rig maintenance devices).
Source : Arab Times0