Parsons signs PMC extension

09 November 2001

The US' Parsons Engineering Corporationsigned on 20 November an extension to its existing contract for the provision of project management consultancy (PMC) services to Kuwait Oil Company (KOC). The 18-month contract is worth an estimated $45 million-50 million (MEED 9:11:01).

Parsons was awarded the initial, five-year contract, worth $84 million, in 1996. The contract is due to expire on 12 December (MEED 1:11:96).

In early May, KOC issued a tender for a new PMC contract. However, Parsons was the sole bidder for the five-year assignment.

Two other US firms were prequalified to bid for the PMC work - Fluor Danieland Foster Wheeler Corporation. One of the main reasons why they did not participate was a clause in the tender stating that the successful bidder would be barred from bidding for any other KOC work.

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