Bid & Tender
KOGAS Recoups Investment in Zubair Oil Field

Date : Dec 13, 2017

The state-owned Korea Gas Corporation (KOGAS) has said that it has recouped its $2.49 billion investment in the Zubair oil field in southern Iraq.

 

According to a report, the company has recovered $2.53 million as of December, which exceeds its initial outlay.

 

The oilfield is currently producing around 360,000 barrels of crude oil per day.

 

The project primarily involves the drilling of more than 200 wells, the construction of treatment and storage facilities and refurbishment of the existing facilities.