KNPC to deal with new contracts

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KUWAIT CITY, July 16: According to an informed source from the oil sector, the Kuwait National Petroleum Company (KNPC) is currently working on implementing a new strategy for reviewing the terms and conditions of new contracts, reports Aljarida daily. The source explained that the company will consider not awarding the same scope of work to the same contractor for different areas in the future in order to avoid the contractor’s failure to implement the assigned work.

This strategy will include clauses specifying fines to impose on the contractor in case of such a situation. He affirmed the company’s commitment to impose all fines to contractors in the event of any violation, within the framework of the laws that preserve the company’s rights, provided that this is done in accordance with the terms and conditions of the contract, and is based on the regulations of the financial authorities. The source indicated that the company will continuously audit and follow-up with all its contractors to ensure compliance with the security requirements and safety standards in all their work contracted with the company.

He stressed the company’s keenness to start procedures for renewing the ongoing contracts well before the end of their validity period in order to avoid extending contracts at high costs. The source explained that KNPC is also working on coordinating with external parties when needed, and conducting a future study regarding fines for service contracts and maintenance of the local marketing department, in addition to investigating accuracy in determining all contract requirements of employment or others before issuing tenders and awarding contracts.

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