Kuwait city: Kuwait Petroleum Corporation (KPC) signed a Memorandum of Understanding (MoU) with the Ministry of Electricity, Water, and Renewable Energy and Kuwait Oil Company (KOC) to establish a co-generation power and steam plant in the Ratqa field. The initiative is aimed at optimizing national resources and advancing economically sound projects.
According to Kuwait News Agency, the planned plant will have a capacity between 1,200 and 1,500 megawatts and will be developed through the Kuwait Authority for Partnership Projects (KAPP). The project is designed to enhance integration between the oil and energy sectors, with the new facility supplying steam necessary for heavy oil production in the South Ratqa field. This support is expected to gradually increase output to approximately 120,000 barrels per day.
Additionally, the project is set to improve the country's electricity generation system, reduce production costs, and enhance the utilization of gas as a fuel at the national level. KPC Deputy Chairman and CEO Sheikh Nawaf Saud Al-Sabah emphasized that the project represents a move towards a more integrated energy system in Kuwait. He highlighted the cooperation with the Ministry of Electricity, Water, and Renewable Energy as a reflection of KPC's commitment to sustainable solutions that align with the country's future power needs.
The MoU was signed at a ceremony held at the Oil Sector Complex. The event was attended by Sheikh Nawaf Saud Al-Sabah and the agreement was signed by Managing Director for Planning and Finance Bader Al-Attar on behalf of the corporation, KOC CEO Ahmad Al-Eidan, and Ministry Undersecretary Dr. Adel Al-Zamel.