KOC awards $3.3bn drilling, soil cleaning contract
KUWAIT CITY: Kuwait Oil Company (KOC) has awarded its largest environmental project for cleaning polluted soil at a total cost of more than KD1 billion ($3.31 billion) to various local and international companies.
The project, considered to be one of the world's largest, will be implemented in five phases and the contracts are likely to be signed within the next two weeks. The two major stages of the project are North Kuwait Drilling, Transport and Processing Project and the South Kuwait Exploration, Transport and Processing Project which will together treat 13 million cu m of oil contaminated soil.
This is related to soil damage, including lakes, moist and dry oil and oil-contaminated piles. The region covers 114 sq km of land contaminated with crude oil as a result of the destruction of about 700 oil wells in Kuwait.
North Kuwait Drilling, Transport and Processing Project is divided into two sites with a total value of $381.58 million. The first site (Zone One) contract worth $193.58 million was awarded to the alliance of Khaled Ali Al Kharafiand Brothers for Construction Contracting and Lamor Corporation, while the Zone Two work was awarded to Kuwaiti Company for Plant Construction and Contracting and Environmental Technology Management Company for a total amount of $188 million.
On the South Kuwait Drilling, Transport and Processing project, CAPT sources said the Zone One contract has been awarded to the alliance of Khaled Ali Al Kharafi and Brothers for Construction Contracting and Lamor Corporation valued at $196.53 million, while Zone Two contract has been clinched by the Heavy Engineering Industries and Shipbuilding Company in alliance with Zaopin valued at $185.23 million.
Saudi oil exports in March rose 75pc to $14bn
DUBAI: The value of Saudi Arabia's oil exports in March rose by 75 per cent year on year to 52.3 billion riyals ($13.95 billion). Non-oil exports increased by 42.9 per cent to 22.4 billion riyals, the General Authority for Statistics said, adding crude exports accounted for 70 per cent of total exports.
China remained Saudi Arabia's main trading partner in March, with exports to there amounting to 14.3 billion riyals and imports of 9.4 billion riyals.
The kingdom's total export value in March was 74.7 billion riyals.
Saudi imports from Turkey, meanwhile, increased only marginally month on month in March, rising to 27 million riyals from 24.5 million riyals, well below their amount last year after an informal blockade by Saudi Arabia.
NPCC wins $744m Belbazem Offshore Block in UAE
DUBAI: Abu Dhabi-headquartered National Petroleum Construction Company (NPCC) has been awarded a $744 million local oilfield development contract.
The engineering, procurement and construction contract is for the for the full field development of the Belbazem Offshore Block in Abu Dhabi.
The contract awarded by Al Yasat Petroleum Operations Company, a joint venture between Adnoc and China National Petroleum Corporation (CNPC).