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Friday , November 16 2018

Floating of tender – KOC to ‘address’ CAPT to review the decision

KUWAIT CITY, Aug 26: Informed sources disclosed that Kuwait Oil Company (KOC) will address the Central Agency for Public Tenders (CAPT) this week to review the decision taken before Eid Al- Adha, which dismissed the floating of tender for Jurassic Gas Stations 4 and 5 at northern Kuwait after KOC approved the same list of contractors that were pre-qualified earlier.

The same sources pointed out that CAPT advised KOC on the need for prequalification of contractors while the latter considers it unnecessary, because it already had a list of contractors having been pre-qualified to participate in the same project.

They stated the intention of KOC to accelerate the floating of tender and receiving price offers, adding the two projects will be floated based on Early Production Facilities (EPF) system instead of the Engineering Procurement and Construction (EPC) system due to the similarities between EPC system and BOT.

Meanwhile, sources affirmed that KOC has increased its daily production of free gas to 450 million cubic feet, adding the production of light oil has reached 160-165 thousand barrels per day of which 88 thousand barrels is exported and the rest is mixed with crude oil.

They reiterated 500 million cubic feet of free gas production is expected to be attained per day in addition to 200 thousand barrels of light oil by the end of the current fiscal year 2018/2019, while increasing the daily gas production to one billion cubic feet and light oil to 275,000 barrels by 2022/2023.

They said KOC recently established three plants for the production of free gas and light oil according to Jurassic Production Facility (JPF) system, noting each plant has capacity for 104 million cubic feet of free oil and 40,000 barrels of light oil per day.

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