Five IOCs to bid for Kuwait deal
Five-year contract aims to boost oil capacity to 3.6mn bpd
Royal Dutch Shell, British Petroleum, France's Total, Exxon Mobil and US-based Chevron will bid for a five-year consultancy contract for a KOC multi-billion project, Zawya news website has reported.
The project is aimed at lifting Kuwait’s crude production capacity to 3.65bn bpd by 2020 through expansion of oil fields in the north and the south and $4.2bn development of heavy crude in northern field.
"This increase involves big technical and technological challenges...hence KOC needs help from international companies to implement its project strategy," KOC's CEO Hashim Sayed Hashim said.
"We have selected five such companies to bid for a contract to help us execute these giant projects. KOC will issue a tender for those firms to sign a five-year consultancy contract for those projects starting from fiscal 2015-2016 year."