Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

KOC Official Says Shale Likely 'Exists' In Kuwait  Join our daily free Newsletter

MENAFN - Arab Times - 11/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Oil shale exists in the layers of earth in Kuwait as there are several studies conducted by experts in this regard, said Ahmad Al-Eidan, Manager of Exploration Group of Kuwait Oil Company (KOC). On the sidelines of the 33rd GCC meeting of the Petroleum Cooperation Committee, he said that oil shale's existence has not yet been confirmed or denied, stressing that there is a permanent coordination with Saudi Arabia and the UAE to draw conclusions for oil shale production. On the seismic surveys carried out by KOC in Al-Abdali, he said the company is not authorized to give away compensation lands and the government alone is responsible for it, noting that KOC is only carrying out exploration, development and production procedures.

He said the coordinating committee of the national oil companies in the Gulf states, which was established in 1997, aims at promoting cooperation and exchange of knowledge among oil companies. It also encourages experts' technical participation in training sessions, as well as conducting joint studies and participating with work papers for regional and global conferences, e added. There is an integrated database between all the Gulf national companies used in emergency cases, he noted, indicating that it was used previously by Saudi Arabia and Kuwait due to threats made by online hackers.


The committee meeting, held twice a year in one of the Gulf states, consists of five sub-committees of production, maintenance and drilling operations, exploration, development, environment and health and safety. For his part, Head of Public Relations Department at Petroleum Development Oman (PDO) Sulaiman Al-Manthari said that the company has major investments in a number of capital and operational projects, noting that the cost of each project ranges from 2-3 billion as annual investments range from 5-6 billion.
There is a priority for Omani companies and employees in the oil sector, he said, adding that PDO has its arms wide open for the GCC oil companies as well. Regarding the impact of the fluctuation and decline in oil prices on the investments, Al-Manthari said that those prices are not effective due to the preset feasibility studies on the basis of prices of less than 100 per barrel.
a

 


Arab Times




  MENA News Headlines
 Sep 26 2016 - The Euromoney Kuwait Conference: Meeting the Challenge of Financial Innovation and ReformMENAFN Press
(MENAFN Press) Kuwait City - 27 September The 8th annual Euromoney Kuwait Conference takes place today on 27 September 2016, at the JW Marriott Hotel in Kuwait City. Co-hosted by the Ministry of ...

 Sep 26 2016 - Oil Industry Must Focus on Sustainability, Says Top Petroleum Development Oman ExecutiveMENAFN Press
(MENAFN Press) Ms Intisaar Al Kindi to Represent Innovative Oman Oil Producer at Middle East’s Largest Oil & Gas Event Industry Transition and Resilience Set the Agenda for ADIPEC 2016 Abu ...

 Sep 26 2016 - Moderate quakes rattle Japan no injuries or damage reportedSaudi Press Agency
(MENAFN - Saudi Press Agency) TOKYO, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- A pair of moderate earthquakes rattled northern and southern Japan on Monday, but there were no immediate ...

 Sep 26 2016 - Pakistan launches polio vaccination drive amid tight securitySaudi Press Agency
(MENAFN - Saudi Press Agency) Islamabad, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- Pakistan on Monday launched a three-day national anti-polio campaign to vaccinate around 37 million ...

 Sep 26 2016 - Israeli occupation forces open fire on Palestinian homes in GazaSaudi Press Agency
(MENAFN - Saudi Press Agency) Gaza city, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Israeli occupation forces targeted and opened fire on Palestinian homes, east of Khan Yunis in the southern ...

 Sep 26 2016 - Kingdom of Saudi Arabia participates in International Conference on Atomic Energy in ViennaSaudi Press Agency
(MENAFN - Saudi Press Agency) Vienna, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- The International Conference on Atomic Energy today opened its 60th session in the Austrian capital Vienna. ...

 Sep 26 2016 - Governor of Jeddah receives US Consul General in JeddahSaudi Press Agency
(MENAFN - Saudi Press Agency) Jeddah, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Prince Mishaal bin Majed bin Abdulaziz, Governor of Jeddah, received here today United States Consul General in ...

 Sep 26 2016 - Saudi- Prince Miteb bin Abdullah bin Abdulaziz Receives Poland's AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Prince Miteb bin Abdullah bin Abdulaziz, Minister of the National Guard, received here today Ambassador of ...

 Sep 26 2016 - Chinese stocks close below 3,000-mark after period of stabilitySaudi Press Agency
(MENAFN - Saudi Press Agency) Beijing, Dhu-AlHijjah 25, 1437, September 26, 2016, SPA -- Chinese shares fell below the symbolic 3,000-point mark on Monday, following months of greater stability and ...

 Sep 26 2016 - Saudi Food and Drug Authority bans import of poultry meat and eggs from TogoSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- Saudi Food and Drug Authority has imposed a temporary ban on the import of poultry meat, eggs and their ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help