A total of six companies participated in the tender
A low bid of KD419m ($1.4bn) has been submitted on an oil pipeline project in Kuwait, according to figures published by the country’s Central Agency for Public Tenders (Capt).
The bid was submitted by local contractor Alghanim International General Trading & Contracting.
The contract was tendered by state-owned upstream operator Kuwait Oil Company (KOC) and covers the construction of crude oil pipelines and associated works.
The full list of bidders and prices is:
- Alghanim International General Trading & Contracting – KD419m ($1.4bn)
- Mechanical Engineering & Construction Company – KD422.5m
- Al-Dar Engineering & Construction Company – KD425.7m
- Combined Group Contracting Company – KD502m
- Heisco – KD506.1m
- Sayed Hameed Behbehani & Sons – KD674m
Kuwait is trying to boost project activity in its upstream sector.
The country’s national oil company, Kuwait Petroleum Corporation, is aiming to increase oil production capacity to 4 million barrels a day (b/d) by 2035.
In August, Kuwait announced that it was producing 3.2 million b/d.
Earlier this month, KOC said it was planning to spend KD1.2bn ($3.92bn) on its exploration drilling programme through 2030.
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