Petrofac wins $700m Kuwait Oil contract
Kuwait, July 10, 2014
British oil and gas services group Petrofac said it secured a $700 million contract from Kuwait Oil Company for a gathering centre, which is located north of Kuwait City.
The project, which includes engineering, procurement, construction, pre-commissioning and commissioning of GC29, is to be completed over three years.
GC29 is one of three gathering centres being constructed to support KOC’s plans to increase and maintain oil production over the next five years, said the UK company in its statement.
Each of the three gathering centres will be capable of producing around 100,000 barrels of oil per day together with associated water and gas.
Commenting on the win, Subramanian Sarma, the managing director of Petrofac's Onshore Engineering & Construction business, said: “We have a long track record with KOC which extends over the last 14 years and the award of GC29 represents our tenth project in the country to date."
"With ongoing projects for both KOC and Kuwait National Petroleum Company and good visibility of the future pipeline, Kuwait is, and will continue to be, of strategic importance to Petrofac’s ambitions in the Middle East market," he added.-TradeArabia News Service