The Kuwait Integrated Petroleum Industries Company (KIPIC) has reached an agreement with the UK-based Wood Group, regarding the extension of a consultancy contract (PMC) to manage the $16 billion Al-Zour refinery project says the MEED magazine quoting informed sources.
A source close to the project said: “There is an agreement and an approved work order. We hope that this will be enough to follow the project until completion,” according to a local Arabic daily.
The original project management contract, worth $528 million, was awarded to British oil and gas engineering company AMIC in October 2012, while AMIC subsequently acquired Foster Wheeler in 2014, to become AMIC Foster Wheeler, and then, in 2017. Wood Group acquired AMIC Foster Wheeler.
MEED pointed out that no official announcement was made by KIPIC or Wood Group regarding the renewal of the contract, indicating that the extension of the project management contract had become necessary in light of the delay in its completion.