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    Atlas Petroleum, partners advance Venus oil discovery offshore Equatorial Guinea

    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    Carbon+Intel - DNV and energy majors launch JIP to develop low-pressure CO2 transport by ships

    MicroSeismic wins second Department of Energy grant for carbon capture and storage services

    Sempra, ConocoPhillips partner to launch Port Arthur LNG Project in South Texas

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    LR green lights Rotoboost’s pre-combustion carbon capture system

    German Energy Regulator Does Not Dwarf Tough Road Ahead

    German Energy Regulator Does Not Dwarf Tough Road Ahead

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

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    Russian Tax Overhaul Looks To Offset Oil Firms Revenue Dip

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

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    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

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    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

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    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

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    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

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    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

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Saipem consortium secures $1.57bn Kuwait’s oil refinery contract

Yuvraj_ong by Yuvraj_ong
November 13, 2015
in Downstream, Middle East & South Asia, News
0

A consortium comprising of Italy-based Saipem and Isar Energy has secured a new $1.57bn contract to work on the proposed Al-Zour oil refinery in Kuwait.

State news agency KUNA quoted Kuwait National Petroleum (KNPC) spokesman Khalid al-Asousi saying that the offer from the consortium was lowest bid for the project.

Work on the project is expected to be completed in 45 months.

In July, KNPC awarded contracts worth $11.5bn to build the refinery which is expected to have a capacity of 615,000 barrel-per-day, Reuters reported.

One of them was a KWD454m ($1.5bn) contract awarded to a consortium consisting of Saipem, Hyundai Engineering and Construction, as well as SK Engineering and Construction for the construction of a marine export terminal.

According to Asousi, the paper work for the remaining contracts is continuing and will be signed in October.

Initially, KNPC planned to build the Al Zour refinery in May 2008 but cancelled its construction in March 2008 due to political opposition.

The government has re-approved construction after two years and the company hopes to complete the project in 2017.

In May 2008, KNPC awarded a contract to a consortium of Japan’s JGC and South Korea’s GS Engineering & Construction to install six distillation and atmospheric residue desulphurisation units, and diesel, naphtha, in addition to kerosene hydrotreating plants.

So far, KNPC has awarded $14bn worth of contracts for the construction of refinery.

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