KNPC Plans to Launch $1.3 B Projects in 2019

KNPC Plans to Launch $1.3 B Projects in 2019

The Kuwait National Petroleum Company (KNPC), a subsuidary of the Kuwait Petroleum Corporation (KPC), is reportedly preparing to launch a number of mega projects before the end of 2019, with investments of about $1.3 billion (KWD 400 million), Al-Rai reported.

The first project involves upgrading 11 storage tanks in Al-Ahmadi depot, with its buildings and facilities, as well as the control, power, and fire stations. It was implemented by Punj Lloyd, an Indian contractor, for about $213.5 million.

The second project is a new acid gas removal unit, expected to be launched before the end of the year, with a total cost of nearly $552 million, while the third project is for the modernization of sulfur handling facilities at Al-Ahmadi refinery

Meanwhile, KNPC and Kuwait Oil Company (KOC) have decided to extend two contracts, worth about $20 million, for a period of six months, before announcing new tenders, according to Al-Anbaa Newspaper.

Extending the deals with Arabi Enertech Company and the gas liquefication plant at Al-Ahmadi Port was approved by the Central Agency for Public Tenders. KOC has also extended a $6.6-million contract with Al-Wazzan Company.


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