Kuwait Energy starts Producing Gas at Siba

 

Kuwait Energy has started producing natural gas from the Siba field, south of Basra, on Wednesday.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) announced an inital production rate of 25 million cubic feet a day (mcf/d), increasing to 100 mcf/d by the end of the year.

Kuwait Energy was awarded a 20 year Gas Development and Production Service Contract (GDPSC) for the Siba field in June 2011, granting the company operatorship and 45 percent revenue interest, but it farmed out a 20 percent stake to the Egyptian General Petroleum Corporation (EGPC) in October 2016.

Source: Iraq-Business News

The dangers of Iraq’s oil law
Expert: $25 billion of Iraq’s financial benefits after oil rises above $70