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FILE PHOTO: People work during the construction of the Nestor Kirchner gas pipeline, which first stage was inaugurated on Sunday to transport natural gas from the Vaca Muerta formation in western Argentina to the province of Santa Fe, passing through the province of Buenos Aires, in Macachin, La Pampa, Argentina April 26, 2023. REUTERS/Martin Cossarini/File Photo
OPEC member Kuwait is planning to invite bids for a $1 billion crude oil flow pipeline within a month as part of a project to lift output capacity to nearly 3 million barrels-per-day in 2025, a Kuwaiti newspaper reported on Monday.
The state-owned Kuwait Oil Company (KOC), which manages the Gulf state's upstream sector, will issue tenders for the pipeline and award the contract within six months, the Arabic language daily Alqabas said.
It quoted “informed” sources in Kuwait as saying it is the largest single pipeline contract in KOC’s history and would serve oilfields in North Kuwait.
“KOC has decided to issue one tender for the pipeline network to ensure there will be no interruption to oil flow...this is unlike in the past when the company would split such large projects into smaller contractors,” the paper said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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