Kuwait plans to implement oil, gas projects worth $11.5bln

Kuwait plans to implement oil, gas projects worth $11.5bln

Kuwait has allocated about $11.5 billion to implement oil and gas projects during the coming years, which are divided into several stages according to the progress that has been achieved. On a related front, MEED magazine reported that three American, Australian and French international companies have submitted their final bids for the project management consultancies in the oil and gas sector in Kuwait, according to industrial sources.

The valuation of bids include, $424 million in the design phase, $492 million in the prequalification phase of contractors for the main contract, $1.641 billion in the planning and initial designs phase, and finally $8.317 billion in projects in the study phase. The contract was proposed by the Kuwait Oil Company to cover both the initial engineering and design services and the project management work for the main infrastructure of KOC projects.

The magazine added the American KBR, Australian Worley and French Technip, submitted their bids on June 22, while Fluor, has been excluded from the tender due to violations related to submitting the initial letter of guarantee, and Wood Group, the British company, because it offered the highest price in a previous round. KOC uses the Practice System in the bidding process for a