Koc Signs Many Major Projects

According to reliable sources from the oil sector, the Kuwait Oil Company (KOC) has signed a large package of contracts for mega projects worth KD 551.6 million (equivalent to $ 1.8 billion) in the past three months. The value of these projects is the largest the company has ever expected since the outbreak of the COVID-19 pandemic in Kuwait, reports Al-Anba daily. They explained that the contracts signed for the months of May, June and July are among the major projects. The implementation of these projects will extend for two years or more, even up to five years.

The largest-valued contracts were signed in July, including five contracts to clean up the soil that was contaminated as a result of the brutal Iraqi invasion. The total value of these five contracts amounts to KD 247 million. The months of May and June also witnessed the signing of some contracts with specialized international and local companies for the supply of 31 drilling rigs. Also, a contract worth KD 41 million for a three-dimensional seismic survey of the Mutribah and West Kuwait regions was signed. Contracts worth KD 146.8 million were signed in May, and contracts worth KD 35.6 million were signed in June.

 

 

SOURCE  ARABTIMES

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