PROJECTS: Kuwaiti firms grabbed $8.25bln share in downstream projects

Deals were part of Al-Zour Refinery and CFP

  
Image used for illustrative purpose. A labourer wearing a protective face mask, following the outbreak of the coronavirus disease (COVID-19), carries materials on a construction site in Ahmadi, Kuwait March 28, 2020.

Image used for illustrative purpose. A labourer wearing a protective face mask, following the outbreak of the coronavirus disease (COVID-19), carries materials on a construction site in Ahmadi, Kuwait March 28, 2020.

REUTERS/Stephanie McGehee

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)

(anoop.menon@refinitiv.com

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