SAUDI ARABIA/KUWAIT

 

Cost Blow-Out For NZ Steam Injection Project

 

Chevron’s planned first phase of a steam injection project to boost production in the Saudi/Kuwaiti Neutral Zone will cost $5bn.

This first phase is expected to yield an additional 80,000 b/d from the First Eocene at Wafra.

The Phase-1 cost blow-out indicates that overall costs for the 500,000 b/d project in the Zone, shared 50:50 by Kuwait and Saudi Arabia, will be well in excess of earlier $10-15bn...