KUWAIT, March 7 (KUNA) - KIPIC's CEO Waleed Al-Bader announced on Tuesday the launch of the second phase of Al-Zour refinery, stressing accomplishing further progress according to the expected time.
In a statement, Al-Bader told KUNA that running the second phase comes with national day's celebrations and specifically after a few months after running the first phase. Adding that it is considered a huge achievement in the history of Kuwait's petroleum industry.
He pointed out that the Al-Zour refinery project may achieve economic returns by offering job opportunities, and securing promising oil markets, besides providing steady oil supplies with low sulfur content in order to improve air quality.
Furthermore, he added that launching the second phase will result in increasing refining capacity from 205,000 pb to 410,000 pb. The Third and final phase is expected to work with the maximum refining capacity from 615,000 pb to 535,000 pb
Al-Bader added that Al-Zour Refinery is considered one of the most important pillars of KPC's 2040 strategy in shaping the future of Kuwait's oil industry by promoting the country's exports of high-quality petroleum and products that conform to future specifications in global markets.
He indicated that the refinery increased the material revenues and supports the power of Ministry of Electricity and Water generation stations constantly, stabilized environmentally safe supplies, estimated at 150,000 barrels of fuel with low sulfur content, to meet the increasing demand for electric energy.
He added that they also provide other refining products to export to the global markets to meet commercial operations and keep pace with global demands, as the company established the largest industrial island in the middle of the sea to export liquid petroleum products through two loading platforms with four berths and a central platform under the sea.
Al-Bader stressed KIPIC's endeavor to instill full compliance with health, and safety and to be a practical lifestyle environment for all its employees and contractors.
He expressed his appreciation for the efforts exerted by all those in charge of the project since its inception phase and the continuous support of KPC and the joint cooperation with associate companies in the oil sector.
He stressed that KIPIC continues to achieve the targeted strategic plans according to the set timetable, raising the slogan "to make more possible". (end)