The Chairman of the Arabian Gulf Oil Company (AGOCO), Mohammed Bin Shtwan, has stated that he hopes to end the crisis of power outages at the company`s fields, noting that this problem is keeping production levels below what they are supposed to be.
Bin Shtwan said in a press statement that many of oil wells were shut down as a result of poor infrastructure and the lack of a reliable power source for the oil fields including Sareer.
He added that Sareer oil field needs electricity transformer stations because its area is more than 500 square kilometers, which means that they need to ensure the continuity of the energy supply.
A source in the AGOCO told foreign news agencies that the company's production dropped by more than 50% compared to production levels in October last year.
Economy
