KOC pre-qualifies five oil firms for project in Kuwait

KOCKuwait Oil Company is the world's fourth-largest oil exporter. (Image source: Duncan Brown/ Flicker)Kuwait Oil Company (KOC) has pre-qualified five international oil companies to bid for a consultancy contract on a multi billion-dollar project, which will increase Kuwait’s oil and gas output

Hashim Sayed Hashim, CEO of Kuwait Oil Company, said, “Royal Dutch Shell, BP, Total SA, ExxonMobil and Chevron Corporation have been pre-qualified for the contract. The project involves big technological challenges and we need help from international companies to implement the project.”

KOC said, in a statement, that it would issue a tender to the five firms to sign a five-year consultancy contract for the oil and gas projects starting 2015-2016.

Through this project, Kuwait’s oil output will be increased to 3.6mn bpd and gas production to 42.75mn cu/m per day by 2020.

The project consists of three parts including expansion of oilfields in the north and the south as well as development of heavy crude in northern fields in Kuwait, added Hashim.

The heavy crude project would cost around US$4.2bn. There was, however, no mention of investments involved in the other projects related to the north and south of Kuwait.

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