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Thursday , November 21 2019

KPC takes step in ‘implementing’ restructuring project for oil sector

8 int’l firms to participate in tender

KUWAIT CITY, Sept 29: Kuwait Petroleum Corporation (KPC) has taken a step in the right direction in the implementation of a comprehensive restructuring project for the oil sector; thereby, floating a tender in this regard which was published on Kuwait Gazette, reports Al-Anba daily.

KPC has qualified eight international companies to participate in the tender – Strategy Company, Boston Group for Consulting, AT Kearney, Accenture Middle East Consultants, Pine & Company, Oliver Wyman Company, McKinsey and Deloitte Consulting Company.

It can be recalled that during the tenure of the former Board of Directors and executive management of KPC, the Ministry of Oil prepared an organizational structure for the oil sector including the integration of some oil companies.

This was done in coordination with a global consulting firm tasked to review and study the organizational structure of the sector in line with long-term strategic directions and capabilities in order to ensure continuous growth of the Kuwaiti oil industry.

This is in addition to the management of oil operations in an integrated and sustainable manner to achieve the optimum value of Kuwaiti hydrocarbons.

However, the study that cost about KD 333,800 was canceled. Sources disclosed that after completing the study on restructuring the oil sector; detailed studies are required, such as legal studies, once the Supreme Petroleum Council approves the results of the preliminary study.

Sources affirmed that the rights and privileges granted to oil sector workers will not be affected, as there will be close coordination and communication among relevant bodies like oil unions and societies.

KPC set Sept 29, 2019 for the sale of the tender document to qualified companies at KD 1,000 non-refundable; while Nov 5, 2019 is the deadline for submission of offers to the Supreme Procurement Committee in the ministry.

The initial credit amount is KD 20,000 valid for 90 days. The ministry will hold a preliminary meeting in the KPC headquarters at 10:00 am on Oct 14, 2019.

No one is allowed to attend the preliminary meeting if the company does not inform KPC about the names of its representatives at least two days before the meeting. KPC revealed the tender is fl oated as per the two envelopes system – technical envelope and financial envelope.

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