Koc To Float $100m Pipeline Tender To Connect Jurassic Gas Production Facilities

The Kuwait Oil Company plans to float a tender for a pipeline contract (worth 100 million dollars) related to the Jurassic production facilities contracts that were recently awarded to Spetco of Kuwait and Jereh of China.

MEED magazine quoting informed industrial sources said the two companies, Spetco and Jereh, were awarded the main contracts to build the KOC projects, known as 4 and 5, last November. The first bid was $398.2 million, while the value of Jereh’s offer with its local partner NAPCO Kuwait was $426 million, reports Al-Anba daily.

MEED pointed out many projects in the oil and gas sector in Kuwait are disrupted due to plans to overhaul the Board of Directors of the Kuwait Petroleum Corporation which is expected to be completed before the end of this year.

Kuwait has struggled to maintain its oil and gas sector activity in 2020 and 2021 amid logistical problems related to the corona virus pandemic, as well as local political divisions.

The facility known as 4 is to be located near the Sabriya field in northern Kuwait, while facility 5 will be located less than 10 kilometers to the east of the first facility.

These fields include Al-Rawdatain, Al-Sabriyah, northwest of Al-Rawdatain, Umm Naqa, Abu Dhabi, Bahra, Murat and Najma Sargelo fields, and other formations in the Jurassic fields.

 

SOURCE  :   TIMES KUWAIT

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