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Thursday , August 6 2020

‘Initial cost to repair KNPC caused by heavy rains set at $150 million’

KUWAIT CITY, Dec 4: The insurance company that is dealing with repairs to damage suffered by the Kuwait National Petroleum Company in November 2018 has set the initial cost of repair at $150 million, reports Annahar daily quoting informed sources.

The sources added, that some work has been carried out at the company’s sites that were damaged by the heavy rains, which led to the company asking the project contractors and subcontractors to determine the damage in some units and the fall of slope protection, as well as the collapse of the basic pipe supports in addition to some equipment of project contractors in the company.

The sources pointed out that the rain damage falls within the clause of the compulsory conditions of the contract and cover the cost of repairing the damage through the insurance policy covering the assets of the project.

The daily had reported on Oct 10 that the company was taking precautionary measures to protect the oil refineries and gas lines to avoid the dangers in the coming winter. Sources added that the company is working to avoid the problems that have occurred before which had disturbed the operations which at times had led to suspension of work at some refinery units.

Kuwait currently has two oil refineries, the Mina Al-Ahmadi refinery and the government- owned Mina Abdullah Refinery. It has a refining capacity of 700,000 barrels per day and is expected to increase to 800,000 barrels per day when the environmental fuel project becomes operational.

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