KPC’s Ratqa development to test new management

摘要

Kuwait’s decision to move ahead with the first phase of the Ratqa ultra-heavy crude project without the involvement of the majors is a crucial step towards implementing its long-delayed upstream projects in the north of the country. Production capacity increases in the north are key to meeting the country’s goal of adding 1mn b/d of crude output capacity by 2020. But the decision will also be a litmus test for state-owned KPC’s ability to run a complex project on its own, and its success or failure could define Kuwait’s position in future negotiations with the majors.