Kuwait’s Oil Field, Leakage But No Fire

Kuwait’s Oil Field, Leakage But No Fire

Kuwait Oil Company reported it contained an oil leak during drilling at Al-Ahmadi oil Field, located in the rich OPEC member state, Reuters reported.

Company’s Spokesman, Emad Sultan confirmed there was no fire adding that the specialized team is making attempts to bring the leak under control. According to The Daily Star, Sultan stated: “There would be an investigation into the cause of the spill.”

The Gulf Country is a major member in the Organization of Petroleum Exporting Countries (OPEC), with crude production capacity of 2.8m b/d. Oil and gas related revenues have accounted for around 80% of government revenues, however this rate has slashed to 70% in 2015 due to sharp drop in oil prices, according to Kuwait Times.

Kuwait News Agency (KUNA) reported that the country’s crude oil price has recently increased 93 cents reaching $39.87 per barrel.


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