Kuwait Ports Authority signs lease contract with Kuwait Oil Company

Kuwait Ports Authority signs lease contract with Kuwait Oil Company

The Kuwait Ports Corporation has signed a contract with the Kuwait Oil Company in order to lease two marine berths in Shuaiba Port, and storage areas of land belonging to the Corporation in Shuaiba Industrial Area.

The lease contract, worth $39.94 billion, was signed on behalf of the Kuwait Ports Corporation by its general manager, Mr. A. Jihad Al-Hassawi, and on behalf of the Kuwait Oil Company, the CEO, Mr. Ahmed Jaber Al-Aidan, in the presence of a number of officials from both sides.

The contract, which extends for a period of three years, subject to renewal, stipulates that the company rents marine berths 4 and 20 in Shuaiba port, and storage areas of twenty thousand square meters for the logistical operations of the offshore drilling project that the company is working on.

The importance of this site comes from the fact that Shuaiba Port is the only one that has the necessary infrastructure and capabilities to start the logistical work of the offshore exploration and drilling project.

Recently, the Kuwait Ports Authority introduced a new regulation mandating biometric fingerprinting for Gulf nationals and expatriates visiting the country. The mandatory fingerprinting of visitors is subject to the frequency of flights arriving at the airport.

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