KOC awards Saipem US$850 million onshore contract
The Kuwait Oil Company (KOC) has awarded Saipem an onshore engineering and construction contract worth an estimated US$850 million.
The scope of work includes the construction of a system of pipelines of varying diameters, approximately 450 km in length, for the transportation of crude oil and gas from various KOC South Tank Farm manifolds to the new Al Zour refinery on the coast of the Arabian Gulf.
The project also includes the development of a network for the transportation of the refined products to storage areas in the Mina Al Ahmadi refinery.
These products will also be used to feed the Northern Power Station owned by the country’s water and electricity departments.
Speaking on the contract award, Saipem CEO Stefano Cao said, “We welcome with particular satisfaction this new contract from such an important client as KOC, both because it marks a new milestone for the company in the onshore engineering and construction sector and, above all, because it reinforces and consolidates Saipem’s presence in Kuwait, a country where we have been operating for over 30 years and in which we have built solid and lasting relations that reflect our sustainable business model.”
Saipem is a world leader in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, both onshore and offshore, in the oil and gas market.
For more information visit the Saipem website.
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