Contract involves building electrical submersible pump system network
The UK’s Petrofac has submitted the lowest bid for a deal to build a new distribution network for electric submersible pumping systems (ESPS) for state-upstream operator, Kuwait Oil Company (KOC) in the north of the country.
The firm submitted a price of KD57.8m ($208m) in a 6 March bid round, beating rival proposals from three other firms out nineteen prequalified firms.
The second lowest price came from Hyundai Engineering & Construction of South Korea at $222m.
The bidding firms are:
| Bidding firm | Price (KDm) | Price ($m) |
|---|---|---|
| Petrofac (UK) | 57.8 | 208.2 |
| Hyundai Engineering & Construction (South Korea) | 61.7 | 222.3 |
| Saipem (Italy) | 65.1 | 234.3 |
| Consolidated Contractors Company (Athens-based) | 67.9 | 244.9 |
| Source: MEED | ||
ESPS systems are used to aid the flow of crude oil from the reservoir to the wellhead when the natural pressure is insufficient to force the trapped oil to the surface. The project, which was tendered on a engineering, procurement and construction (EPC) basis, is expected to be completed in 2015.
In August, KOC awarded two contracts totaling $348m for the provision, installation and maintenance of electric submersible pumps at its oil fields to the US’ Schlumberger and Aberdeen-based Wood Group.
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