PROJECTS: Chinese-Kuwaiti JV wins $185mln contract from KOC

Project involves drilling and treatment

  
Image used for illustrative purpose. Oil worker drilling for oil on rig

Image used for illustrative purpose. Oil worker drilling for oil on rig

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OPEC member Kuwait has awarded a contract to a Chinese company and its local agent involving drilling and treatment work with a value of around $185 million, the local firm said on Thursday. 

The Central Agency for Public Tenders awarded the project in South Kuwait to Hangzhou Zaopinst Co., Ltd, which is specialized in environment protection, and Kuwait’s Heavy Engineering Industries and Shipbuilding (Heisco). 

In a statement on Kuwait’s stock market, Heisco said the project in “Zone 2” in South Kuwait covers “drilling, transportation and treatment” and that it would be completed within 52 months. 

The project belongs to state-owned Kuwait Oil Company (KOC), which manages the Gulf state's upstream hydrocarbon sector. 

The statement did not provide further project details, but KOC had said that it intends to carry out oil pollution clean-up operations in South Kuwait. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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