Kuwait allocates $ 2.8 billion for 3 oil projects

Oil sources said Kuwait Oil Company has 3 huge projects earmarked for it around 865 million dinars (equivalent to $ 2.8 billion) to be implemented in the next phase, as the company is moving forward with offering these contracts soon.

The sources said that the first plans are to offer 5 tenders for the construction of oil pipelines, and for these tenders a value of 250 million dinars has been awarded, noting that the bidding process will be close to the Central Public Procurement Agency , and is born in response to the company’s strategy of increasing production.

He said “Kuwait Oil” has another tender for the supply of 15 deep drilling towers worth 450 million dinars, each drilling tower of 30 million dinars, according to the Kuwaiti newspaper Al-Anbaa.

The sources stressed the strategic importance of drilling deep wells with the aim of producing high quality gas and oil from the Jurassic strata, up to the strategic goal of producing one billion cubic feet of free gas per day.

As for the third huge contract that KOC intends to offer shortly, it is 3 contracts to clean up the soil contaminated by the brutal Iraqi invasion, which is a continuation of the previous project which was recently awarded to 5 alliances, noting that the company has awarded 165 million dinars, equivalent to 550 million dollars.

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