KOC prepares to launch gas pipeline project
Kuwait Oil Corporation (KOC) plans to issue a tender notice for the gas and condensation pipeline installation project, after Kuwait Petroleum Company’s (KPC) top procurement committee published a list of 30 pre-qualified companies.
The procurement committee said in its statement that the tender will be issued after a period of 30 days, as communication was sent to unlisted pre-qualified companies that they could qualify for tenders on the contract provided they contact the KPC Board of Directors.
Middle East Business Intelligence (MEED) pointed out that Kuwait is currently witnessing an increase in oil projects activity, as the total value of active oil projects has more than doubled since the beginning of this year, according to data collected by the regional project tracking service, MEED Projects.
The total value of active oil projects, both in the pre-implementation and under implementation phases, rose from $7 billion at the beginning of 2024 to more than $14.9 billion at the end of July 2024.The sudden increase in oil project activity comes after four years of decline.
