KOC to Award $360 MM Contract By November

KOC to Award $360 MM Contract By November
KUWAIT – JANUARY 15: A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait. Kuwait produces 10% of the worlds oil and has promised to increase production as needed in the event of a war in Iraq. (Photo by Joe Raedle/Getty Images)

Linking northern Kuwaiti oilfields to production facilities is expected to cost $360 million, as Kuwait Oil Company (KOC) is set to award a contract for relevant works before November 2019, Al-Anba Newspaper reported, citing industry sources.

The project aims to increase production capacity of heavy crude oil to 60,000 barrels of per day (b/d) and includes launching production in 402 wells in the southern Al-Ratqa heavy crude oilfields.

The aim is to connect the headers to a station within the field, then to the central processing facility to transfer the oil to the southern storage tank plant.

The project includes the establishment of 11 models linked with 402 wells, in addition to the construction of heavy oil pipelines, steam pipes, substations, and the installment of power cables and network, as well as communication networks, lighting and security systems.

It should be noted that the bids for the contract were submitted by 9 Kuwaiti companies in December 2018. However, KOC extended the guarantee period for the main contract until November 1, 2019.


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