Kuwait Oil Co to award $7.2bn oil platform tender

Contract for 27 drilling platforms will be largest ever awarded by KOC

Kuwait Oil Company, Kuwait oil projects, Kuwait tenders, Oil and gas projects Kuwait, NEWS, Onshore, Business Management

The state-owned hydrocarbons giant Kuwait Oil Company (KOC) is planning to spend US$7.2 billion on the construction of 27 drilling platforms in an attempt to ramp up oil & gas production in the Gulf state by 1 million barrels per day (bpd).

Business intelligence specialist MEED reported that the 10-year plan will see Kuwait increasing the number of platforms from the current level of 25 up to 60 by 2011 and oil production rise from 3 million bpd to 4 million bpd by 2020.

KOC is currently in talks with potential bidders although a date has yet to be set for proposals.

The $7.2 billion contract will be the largest tender ever awarded by the company.
 

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