Technip wins $400m Kuwait PMC contract
Kuwait, December 18, 2013
Technip said it has won a consultancy services contract worth over $400 million from Kuwait Oil Company (KOC) for the construction of its new oil and gas infrastructure facilities, as well as upgrading of existing facilities.
The new project management and engineering consultancy deal is for the next five years with an option for an additional period of one year, said a statement from Technip.
The France-based company's project management consultancy services (PMC) will be responsible for this project.
Technip PMC will accompany more specifically KOC through different services, including project management, feasibility studies, front-end design, project controls, planning, engineering, procurement, construction management and training of its project staff.
The services will mainly be performed by Technip’s teams in an operating center created specifically for the occasion and housed at the offices based at KOC’s headquarters in Ahmadi, Kuwait, with the support of Technip’s organization in the Middle East, while the group’s operating center in Milton Keynes, UK, will execute the feasibility studies and front-end engineering and design.
Riccardo Moizo, the senior VP at Technip PMC, said: “We are proud to have been awarded this contract by KOC. This award establishes Technip as one of the top-tier Project Management Consultancy companies worldwide. It has been fueled notably by skills and assets gained from the acquisition of Stone & Webster process technologies in 2012.”
Vaseem Khan, the senior VP of Technip in the Middle East, said the contract was a significant milestone for Technip in the Middle East.
"The Group will be able to reinforce its operations in the Region through the addition of another important services center in Kuwait developed specifically for the occasion, further strengthening our current engineering capabilities in the region through operating centers in UAE and Qatar,” he added.-TradeArabia News Service