Production began at a rate of 5,000 barrels a day
- Kuwait Energy is the operator of the field development project and owns a 60 per cent stake
- EGPCs investment in the Block 9 field was its first direct investment in an oil field outside of Egypt
- The Block 9 exploration, development and production service contract was signed in January 2013
The Kuwait-based private sector company Kuwait Energy has started production from the Faihaa-1 well in the Block 9 field in Iraqs Basra governorate.
Kuwait Energy is the operator of the field development project and owns a 60 per cent stake. UAE-based Dragon Oil holds a 30 per cent stake in the project, while the Egyptian General Petroleum Corporation (EGPC) has a 10 per cent stake.
Production began at a rate of 5,000 barrels a day (b/d) on 32/64 inch choke.
EGPCs investment in the Block 9 field was its first direct investment in an oil field outside of Egypt.
The Block 9 exploration, development and production service contract (EDPSC) was signed in January 2013 after the concession was awarded in 2012.
The first discovery was made in the block In September 2014 and resulted in a flow rate of about 2,000 b/d on 32/64 inch choke.
The second discovery followed shortly afterwards in December 2014 in the Yamama formation, resulting in oil flow rates of about 8,000 b/d on 64/64 inch choke.
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