MEED magazine quoted well-informed sources as saying that the Kuwait Oil Company (KOC) had awarded consulting contracts worth $738 million at the end of last year.
The magazine stated that the contracts were awarded to 3 international firms for a period of 5 years, and that the value of each contract exceeded $200 million.
The three companies that won the contracts are the American company “KBR”, the Australian company “Worley” and the French company “Technip”.
MEED indicated that the KOC used the practice system in the bidding process for contracts related to project management consulting, explaining that the past few years did not witness many announcements of major projects in the Kuwaiti oil and gas sector, due to many reasons including the Corona pandemic and the global shift in the area of fossil energy, as well as the ongoing problems related to the internal political situation in the country.
The magazine indicated that decision-making, including those related to reforms aimed at reviving the national economy, faced problems due to the opposition in the National Assembly obstructing government decisions.