------------- -------------- ------------------- -------------------
Tuesday , December 6 2022

Delay in tenders causes oil production of KOC by 100,000 barrels per day

This post has been read 10348 times!

KUWAIT CITY, Sept 28: At a time when the oil-producing countries are seeking to raise their production by removing all obstacles we find the opposite at the local level, most notably the delay in approving projects that contribute to raising production, reports Al-Rai daily.

In this regard, high-ranking oil sources told the daily the delay caused by the Central Agency for Public Tenders in deciding the tenders of the Kuwait Oil Company is one of the main reasons in raising the company’s production, saying, “There are several contracts on the table, some of are several months old and have not yet been decided upon. The sources added that a tender for oil pipeline contracts has been on the table for nearly a year, and is awaiting a decision to award them, although awarding them contributes to raising the production of the KOC by 100,000 barrels, unlike other contracts.

The sources indicated that the delay in the completion of the remaining three decades of projects to rehabilitate contaminated soil resulting from the brutal Iraqi invasion, may cause embarrassment for the Kuwait Oil Company with the United Nations Development Program, especially since the budgets are allocated to the international organization and it was supposed to speed up the rehabilitation process, but the delay in deciding tenders affects the rotation of the project wheel.

The sources confirmed that the KOC faces many challenges with CAPT with regard to deciding on tenders, expecting that new challenges will arise with the cancellation of the approval of the lists of contractors.

Check Also

Kuwait achieves oil revenues of 85% for entire fiscal year

This post has been read 10349 times! KUWAIT CITY, Oct 10: Despite the continued decline …