10th Jul 2015 06:20
LONDON (Alliance News) - Petrofac Ltd said Friday it has been awarded a project worth around USD780 million to supply engineering, procurement and construction work to assist Kuwait Oil Co's plans to increase oil production.
Petrofac said the EPC project work will be completed toward the end of 2017, and focus on Kuwait Oil's manifold trunkline system, which provides feedstock to Kuwait Oil's gathering centres via a network of independent networks and pipelines, it said in a statement.
Petrofac will construct three new gathering centres, each capable of producing around 100,000 barrels of oil per day, as Kuwait Oil aims to substantially increase its crude oil production over the next five years.
"We have a long track record in Kuwait which extends over the last 15 years and the manifold group trunkline award represents our twelfth project in the country," said Chief Executive Marwan Chedid.
"Kuwait is, and will continue to be, one of our core markets and is of strategic importance to Petrofac's ambitions in the Middle East. We look forward to working with Kuwait Oil Co to deliver this project safely and on schedule," he added.
By Joshua Warner; [email protected]; @JoshAlliance
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