OPEC member Kuwait intends to issue three major tenders worth around 865 million Kuwaiti dinars ($2.85 billion) involving pipeline construction, drilling tower supply and oil pollution clean-up, a local newspaper reported on Sunday. 

State-owned Kuwait Oil Company (KOC) will issue the tenders for the projects, which are part of ongoing development plans in the Gulf emirate’s hydrocarbon industry, the Arabic language daily Alanba said, citing KOC sources. 

The first project with a value of 250 million dinars ($825 million) involves the construction of oil pipelines in various parts of the country, it said. 

The second tender is for the supply and installation of 15 drilling towers worth nearly 450 million dinars ($1.485 billion) over a period of five years, it said. 

The third tender complements a recent $multi-billion contract for oil pollution clean worth around 165 million dinars ($540 million), the report added. 

In May KOC awarded its largest environmental project for cleaning polluted soil at a total cost of more than one billion dinars ($3.3 billion) to a number of local firms. 

They were related to soil damage, including lakes, moist and dry oil and oil-contaminated piles.  

The project covers around 114 sq km of land contaminated with crude oil as a result of the destruction of about 700 oil wells in Kuwait during the 1990-1991 Iraqi invasion of the country. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com) 

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