Kuwait Oil Company (KOC) announced that it has received two bids for its $1.4 billion Water Injection Plant-IV (WIP IV) project in South Kuwait, reports Zawya.
Petrofac International Limited, a British energy services company, submitted the lowest bid at KD453.7 million ($1.47 billion).
Indian engineering and construction firm Larsen and Toubro (L&T) placed the second bid at KD488.3 million ($1.5 billion).
When the project was first tendered in August last year, KOC noted that seven companies were pre-qualified to participate in addition to the two current bidders. These included European utilities Tecnicas Reunidas and Saipem, Korean firms Samsung, Hyundai Engineering & Construction Company, and Daewoo, as well as Chinese companies Sinopec Luoyand Engineering and Sinopec Engineering Incorporation.
The WIP IV project is one of KOC’s major initiatives aimed at increasing water injection capacity in southern Kuwait.
The scope of work for the “Installation of Water Injection Plant-IV (WIP IV) in SK Area” includes the construction of a new water injection facility, associated pipelines, and related infrastructure. It also covers the installation of safety systems, oil gathering systems, and new well pads.
