LOC17:07
14:07 GMT
KUWAIT, June 5 (KUNA) -- Chevron Saudi Arabia, which operates Wafra oil
field in cooperation with the Kuwait Gulf Oil Company, said that preliminary
results of the steam inundation project at Wafra field are so promising.
Chairman of the company Ahmed Awad Al-Omar said in a press statement that
the initial results at the joint operations as well as the simulation model
and other studies that are subject to assessment, aim to produce more than 500,
000 barrels of oil per day while the amount of explorable oil is more than 6
billion barrels.
He added that the injection of steam inundation in the first Eocene
reservoir in Wafra has increased production by more than 600 percent of the
primary production (without steam injection), showing that the cost of this
phase rose to more than USD 350 million.
He pointed out that the project requires the drilling of 10,000 wells for
production and steam injection and monitoring of temperatures in addition to
the installation of large separate facilities to generate energy and steam,
anticipating the issuance of the decision to invest in the development of the
entire field in late 2013, while the first phase of steam injection in the
Eocene would begin by 2017.
He said the potential impact of the inundation of steam would be "very
large", adding that over the past 60 years, the traditional pumping had
contributed to the extraction of about (5) percent of the oil that is already
existing in the first Eocene reservoir, noting that the extraction of another
one percent from this reservoir alone will add more than 100 million barrels
to Wafra field's confired reserves.
Al-Omar said that the quantity contained in the first Eocene reservoir is
estimated at nine billion barrels of oil, while separate tests are underway
for steam inundation at the second Eocene reservoir that is a little deeper in
Wafra.
Chevron is one of the world's leading integrated energy companies, with
subsidiaries that conduct business worldwide.
The Company's success is driven by its people and their unrelenting focus
on delivering results the right way, by operating responsibly, executing with
excellence, applying innovative technologies and capturing new opportunities
for profitable growth. (end)
asj.tg
KUNA 051707 Jun 11NNNN