KUWAIT: Kuwait Petroleum Corporation signed on Sunday a memorandum of understanding with the Ministry of Electricity, Water and Renewable Energy and Kuwait Oil Company to establish a co-generation power and steam plant in the Ratqa field. In a statement, KPC said the agreement aims to bolster cooperation, optimize the use of national resources and advance economically sound projects, noting the plant’s planned capacity ranges between 1,200 and 1,500 megawatts through the Kuwait Authority for Partnership Projects (KAPP).
The project is expected to deepen integration between oil and energy sectors, with new facility supplying the steam required for heavy oil production at the South Ratqa field, supporting a gradual increase in output to around 120,000 barrels per day. It will also enhance the country’s electricity generation system, help reduce production costs and improve the use of gas as fuel at the national level.
KPC Deputy Chairman and Chief Executive Officer Sheikh Nawaf Saud Al-Sabah said the project is a steppingstone toward building more integrated energy system in Kuwait. He added that cooperation with the ministry of electricity, water and renewable energy reflects the corporation’s commitment to delivering sustainable solutions that support oil operations while meeting the country’s future power needs.
The MoU was signed during an official ceremony held at the Oil Sector Complex, attended by Sheikh Nawaf. The agreement was signed on behalf of KPC by Managing Director for Planning and Finance Bader Al-Attar, on behalf of KOC by its CEO Ahmed Al-Eidan, and on behalf of the Ministry of Electricity by Undersecretary Dr Adel Al-Zamel. – KUNA
