Kuwait to invite bids for oil field development

OPEC producer Kuwait is planning to issue tenders for the development of an oilfield nearly 15 years after it was discovered, a newspaper said on Thursday.

The Kuwait Petroleum Corporation (KPC) intends to issue tenders shortly for Mutraba field and will invite four global firms to bid, the Arabic language daily Alqabas said, quoting informed sources.

The field in Northwest Kuwait is expected to produce more than 30,000 barrels per day after the development project is completed, the report said without naming those firms.

The Kuwait Oil Company, which is in charge of Kuwait’s upstream oil operations, has completed 3-D seismic surveys of the field, it added.

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