Kuwaiti companies grabbed contracts worth more than 2.5 billion Kuwaiti dinars ($8.25 billion) as part of three major downstream projects awarded by country over the past few years, an oil official has said. 

The projects comprise the 615,000-bpd Al-Zour oil refinery in South Kuwait, the Clean Fuel Project for upgrading Kuwait’s refineries and gas import facilities, said Walid Al-Badr, CEO of the state-owned Kuwait National Petroleum Company. 

Quoted by the Kuwaiti Arabic language daily Alanba on Thursday, Badr said local firms were awarded deals worth around 1.047 billion dinars ($3.45 billion) in Al-Zour project and nearly 1.3 billion dinars ($4.29) in the CFP contract. They also benefited in sub-contracts in the gas facilities project, he added. 

He noted that CFP, involving Mina Al-Ahmadi and Mina Abdullah refineries, has almost been fully commissioned while nearly 98 percent of Al-Zour and gas facilities projects have been executed. 

(Writing by Nadim Kawach; Editing by Anoop Menon)


Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021