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Oil Min.: Al-Zour complex to maximize economic return of oil
07/12/2017 | LOC16:32
13:32 GMT
| Kuwait News
تصغير الخطالشكل الأساسيتكبير الخط
Minister of Oil Essam Al-Marzouq during the launch ceremony of Al-Zour Oil Complex.
Minister of Oil Essam Al-Marzouq during the launch ceremony of Al-Zour Oil Complex.
KUWAIT, Dec 7 (KUNA) -- Al-Zour Refinery is the only one in Kuwait designed to process Kuwaiti heavy crude oil, gaining it strategic importance to maximize the economic return of oil wealth, Minister of Oil Essam Al-Marzouq said on Thursday.
The refinery project will produce low-sulphur fuel oil (LSFO), mainly for the local power plants, Al-Marzouq, also Minister of Electricity and Water, told the launch ceremony of Al-Zour Oil Complex.
The ceremony was sponsored and attended by His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.
The Kuwait Integrated Petrochemical Industries Company (KIPIC)'s complex includes three mega projects, Al-Zour Refinery, the LNG Import Facilities, and the Petrochemicals Complex.
Al-Marzouq said the projects would give an impetus to the national economy, through creating new opportunities for developing local projects in downstream industries and logistical services. It will also offer new jobs Kuwaitis.
The LNG Import Facilities project, will enhance the strategic role of the Kuwait Petroleum Corporation (KPC), backing its commitment to provide the country's needs of energy, both today and in the future, as well as achieving the highest added-value of the integration process, the minister noted.
KIPIC will produce the optimal mix of natural gas and LSFO for electricity plants, besides a surplus of the crude and diesel for export purposes "making utmost utilization and maximizing the economic return of our oil wealth," Al-Marzouq said.
As for the Petrochemicals Complex, the minister said it will integrate with the Al-Zour Refinery to provide high-quality products, such as p-Xylene (para-xylene), polypropylene and gasoline, besides motor fuel for local use and exports.
Al-Marzouq thanked His Highness the Premier for his support to the oil sector, and his eagerness to follow up its development projects. (end) osj.ht.ysa.msa
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