Kuwait Oil Company extends gas pipeline bid deadline to October 8
The $200 million project involves constructing a 65-kilometer, 20-inch pipeline, developing a storage pipeline, and installing launch/reception facilities, valves, measurement systems, safety systems, and related infrastructure.
• Sheikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation has confirmed that the company plans to increase its oil production capacity to four million barrels per day by 2035.
Kuwait Oil Company (KOC) has extended the bid submission deadline for a $200 million gas export pipeline project, according to Al Qabas newspaper.
MEED magazine reported that the new deadline for tenders is October 8. The pipeline will run from the Joint Abundance Operations Area to the BS-171 reinforcement station.
The scope of the project includes the construction of a 65-kilometer pipeline with a diameter of twenty inches, the development of a storage pipeline, and the installation of launch/reception facilities, valves, measurement systems, safety systems, and other associated facilities.
Earlier this year, Sheikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation (KPC), confirmed that the company plans to increase its oil production capacity to four million barrels per day by 2035.
About 90% of Kuwait’s oil production comes from Kuwait Oil Company, which also aims to achieve a daily gas production capacity of 1.5 trillion cubic feet by 2040, while Kuwait’s oil reserves are estimated at 100 billion barrels.
Under KPC’s 2040 strategy, the company plans to invest $410 billion, sourced from KPC’s cash flows, debt, and joint ventures with other companies.
Of this $410 billion, KPC and its subsidiaries plan to invest $110 billion to achieve the group’s energy transition goals.
