Kuwait awards $240m in February upstream contracts

14 March 2012

Three Kuwaiti oil field soil remediation deals signed

State-upstream operator, Kuwait Oil Company (KOC) has awarded 12 contracts worth a total of $204m in February, including three deals for the remediation of contaminated soil in the southeast of the country.

South Korea’s GS Engineering & Construction, Spain’s Hera and India’s TERI were awarded a total of KD45.7m ($163.7m) on 19 February for the decontamination of soil in KOC’s south eastern oil fields.

The south eastern fields have been divided into three groups known as A, B and C. Hera submitted the lowest total bid for the three deals at around $151m, but was only awarded the contract for Lot C.

 

South east Kuwait fieldsContractorValue (KD)Value ($)
LOT ATERI18.6m66.7m
LOT BGS Engineering & Construction11.0m39.4m
LOT CHera16.1m57.6m
Source: KOC

According to the latest date released by KOC, a $16.1m contract was also signed on 21 February with the local Mechanical Engineering & Contracting Company for the replacement of a 16-inch dia-eocene crude oil supply pipeline from the main crude oil gathering centre at the Wafra field to the Burgan field.

KOC signed only four contracts in January, worth just under $200m. These included a $184m contract with geophysical firm Westerngeco, part of US-based oil field services firm Schlumberger, to gather 3D seismic data on Kuwaiti onshore oil and gas fields.

KOC awarded only $2.6bn-worth of contracts in 2011, almost 80 per cent lower than the $11.6bn signed in 2010.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.