The Kuwait Oil Company has postponed the deadline for submitting bids for the gas and condensate network modernization project, as the project cost is estimated at $100 million, which is the second upgrade contract to be issued for the gas and condensate network in this region.
The original deadline of August 30 for bids issued in May this year has a new deadline of September 27. A local Arabic daily said, using guidance from the Central Agency for Public Tenders and an analysis of the bid security value, the final value of the main contract is likely to be between $70 million and $160 million.
The extension of the bid closing date comes amid widespread project delays in Kuwait’s oil and gas sector, as several major factors have negatively impacted oil and gas projects in Kuwait, including the country’s ongoing political impasse and the repercussions of the COVID-19 pandemic.
Earlier this month, MEED reported that budget approval had been delayed for two major oil projects in Kuwait, one of which was a project to decongest four GCs gathering centers in East Kuwait with an estimated value of $700 million. The other is the Kuwait Oil Company project with an estimated value of $650 million, which focused on the expansion of two EWDPs known as EWDP-1 and EWDP-2.