Saturday , September 23 2023

KNPC signs deal to sell out-of-service assets at Shuaiba

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KUWAIT CITY, Sept 21: The Kuwait National Petroleum Company (KNPC) announced the signing of a contract with Nasser Mohammed Al-Baddah and General Trading and Contracting Company, according to which the latter will purchase outof- service units, equipment and assets at the Shuaiba Refinery, which was completely shut down in March 2017, reports Al-Rai daily.

Al-Baddah Company won the purchase contract after fulfilling all conditions, and was among 22 local and international entities that had qualified to submit bids for the auction. In August 2021, KNPC had announced the holding of the auction between the eligible parties, followed by a pre-tender meeting, arranging field visits to the site, and responding to the inquiries of bidders, before closing and evaluating these bids, and then awarding the contract. The winning company, in accordance with the aforementioned contract, is obligated to transfer the sold assets and equipment and vacate the site in accordance with the provisions and conditions of the bidding contract.

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