Kuwait’s Heavy Engineering Industries & Shipbuilding Company (Heisco) has signed a contract with the upstream state-owned operator Kuwait Oil Company (KOC)The contract scope covers operations and maintenance of bulk chemicals facilities, operational laboratories and effluent water disposal plants in several areas.The contract also covers operations and maintenance of the Wara pressure maintenance plant at the Burgan oil field. It has a total value of KD19.6m ($63.6m).The award has been approved by the board of directors of Kuwait’s Central Agency for Public Tenders (Capt), according to the stock market filing.This is the second major services contract win that Heisco has announced recently.The company recently signed a KD17.84m ($59m) service contract with the downstream state-owned operator Kuwait National Petroleum Company (KNPC).Kuwait’s oil sector is currently going through a large-scale reorganisation.In August, a total of 20 new deputy chief executive officers (DCEOs) and deputy managing directors were appointed across the country’s state-owned oil and gas companies.The wave of major personnel changes has come after a prolonged period of political gridlock, during which it has been difficult to push through authorisations for new senior appointments at the state-owned oil companies, leaving many key positions vacant.Kuwait has had three elections in three years, creating policy uncertainty that has significantly impacted businesses and delayed major decisions on projects.The country has seen a contraction in the value of its oil and gas projects market as the political deadlock has blocked approvals for major infrastructure projects in the sector.Between the start of 2020 and the beginning of May this year, Kuwait’s total value of all active oil, gas and chemicals projects declined by 65 per cent from $67.1bn to just $23.5bn. (ICE KUWAIT)

Fonte notizia: MEED