The Kuwait Oil Company (KOC) on Thursday signed contracts worth KD 662 million (USD 2.342 billion) to build three collection centres in the company's areas of operations north of Kuwait, to increase oil production in the northern fields from 700,000 million barrels daily at present to a million barrels over the coming years.
KOC signed the first contract, worth KD 194 million, with Petrofac to build collection centre 29. A second contract, worth about KD 240 million, was signed with Larsen and Toubro to build collection centre 30.
The third contract was awarded to Dodsal to set up collection centre 31, a project worth KD 228 million.
CEO of KOC Hashem Hashem stressed in a press statement the importance of the three vital projects for increasing productivity of the Kuwaiti northern fields.
Hashem underlined the necessity of adhering to the criteria and conditions of health, safety and the environment in the implementation of the three centres, expressing hope that they will stick to schedule and the set budget.
For their part, officials of the three companies awarded the contracts stressed their commitment to build the collection centres adhering to schedule and the relevant international criteria of health, safety and environment. They also expressed hope that the projects will help enhance cooperation with KOC.