Kuwait Energy starts oil output at Faihaa-2 well in Basra

Kuwait City: Kuwait Energy Plc said on Thursday that it had started commercial oil production at the Faihaa-2 well in the Block 9 concession of Basra governorate in southern Iraq.

Production has stabilised at 5,600 barrels per day, the company said, adding that it held a 60 per cent revenue interest in the Block 9 concession while Dubai-based Dragon Oil owned 30 per cent and Egyptian General Petroleum Corp held 10 per cent.