Kuwait invites bids for giant oilfield on July 22
Kuwait has extended a deadline for submitting bids for the development of one of the world's largest oil fields from 22 June to 22 July, press reports have said.
The project involves water injection in Burgan oilfield and other fields in South Kuwait, where most of the country's oil and gas resources are located.
The Central Agency for Public Tenders (CAPT) had earlier approved a request by the state-owned Kuwait Oil Company (KOC) for the submission of bids on 22 June.
'CAPT has now extended the deadline for companies to bid for this project to 22 July,' the Arabic language daily Alseyassah said, citing KOC sources.
The paper did not mention project cost estimates but said it involves increasing oil and gas production in the Southern region.
The 780-square kilometre Burgan field contains around 70 billion barrels of extractable crude oil, nearly two-thirds of the Gulf emirate's oil reserves of about 101 billion barrels.
Burgan is the world's second largest oilfield after Saudi Arabia's Ghawar.
The field in southeast Kuwait was pumping more than 2 million barrels per day (bpd) before falling to around 1.7 million bpd due to ageing.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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