The Audit Bureau report for 2020/2021 shows from Jan 2018 to February 2021 the Kuwait Oil Company has reported 392 theft incidents.
The report includes 130 diesel theft cases totalling 1 million liters, and if calculated at a subsidized price of 55 fils, the estimated amount is about 35,667 dinars, and if calculated at the official price, it is 55 thousand, reports Al-Rai daily.
The report added that the theft of electric cables during the same period (164 thefts) was about 276.3 thousand dinars, including cables linked to production centers and oil well sites, which led to the suspension of production.
The report estimated the average losses resulting from the suspension of production in southern and eastern Kuwait between September 2020 to December 2020 was at about $17 million, due to the theft of electric cables and the suspension of production at many wells.
The sources pointed out 16 cases of pipe thefts of different sizes and lengths were monitored, worth 32.5 thousand meters, at a value of 333.5 thousand dinars, this is in addition to other financial losses incurred by the company due to these thefts, including the costs of connection, delivery, painting, reprogramming and control systems and linking them to the approved financial systems.
For its part, the Kuwait Oil Company said it succeeded in arresting suspects in more than 25 theft cases in coordination with the concerned authorities to monitor vital facilities and inspection procedures to enhance the level of security.
The company pointed out that there are special technical committees to review security incidents and their causes and set the necessary controls to avoid them in the future, and determine the responsible party in the company to implement these recommendations, noting that most thefts are in remote locations outside the company’s security fence and are dealt with within the legal frameworks and procedures in force and in coordination. with the security authorities.
KOC clarified most of the stolen electrical cables belongs to contractors, and most of them are from non-productive wells.
