Kuwait Oil Company (KOC) has announced that it had received two bids for its $1.4 billion Water Injection Plant-IV (WIP IV) project being implemented in South Kuwait with leading British energy services company Petrofac International Limited emerging as the lowest bidder with a price of KD453.7 million ($1.47 billion).

Indian engineering and construction conglomerate Larsen and Toubro (L&T) is the second one with a bid amount of KD488.3 million ($1.5 billion).

When it was first tendered in August last year, KOC said a total of seven companies were qualified to bid apart from these two firms.

These included European utility majors Tecnicas Reunidas and Saipem; Korean heavyweights Samsung; Hyundai Engineering & Construction Company and Daewoo as well as Chinese groups Sinopec Luoyand Engineering and Sinopec Engineering Incorporation, it stated.

A major project for KOC, it is aimed at boosting the water injection capacity in southern Kuwait.

The scope of work for 'Installation of Water Injection Plant-IV (WIP IV) in SK Area' project includes the construction of a new water injection facility and laying of associated pipelines.

It also involves installation of associated facilities like safety systems, oil gathering systems and new well pads.

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