Kuwait Sets Deadline for Jurassic Gas Bids

Kuwait Sets Deadline for Jurassic Gas Bids
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)

Kuwait announced that deadline for companies to bid for two huge gas projects at the country’s northern border will be September 1st, Zawya reported.

Bidding companies are required to submit technical and financial bids for the two Jurassic gas projects, including the establishment of pipelines and processing facilities.

The Central Agency for Public Tenders (CAPT) approved the request submitted by Kuwait Oil Company (KOC) to make September 1st the deadline for bids.

The lowest bid received for the projects till now were submitted by China’s Jereh Oil &Gas Engineering Corporation at $490.6 million for the project’s first package.

The project is located close to the Kuwait-Iraq borders. It will operate at a capacity of 300 million cubic feet per day (mcf/d) of free gas, as well as 100,000 barrels per day (b/d) of light crude oil.

Sarah Samir 2896 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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