State-owned upstream operator Kuwait Oil Company (KOC) has issued the invitation to bid for the installation of Water Injection Plant 4 (WIP-4).This project is estimated to be worth $200m and its scope includes:Construction of a water injection plant called WIP-IVInstallation of safety and security systemLaying of pipelinesInstallation of oil gathering systemsInstallation of the new well padsConstruction of associated facilitiesA total of nine companies have qualified to bid on the project.They are:Samsung Engineering Company (South Korea)Sinopec Luoyand Engineering Company (China)Hyundai Engineering & Construction Company (South Korea)Sinopec Engineering Incorporation (China)Larsen & Toubro (India)Petrofac International (UK)Saipem (ItalyDaewoo Engineering & Construction Company (South Korea)Tenicas Reunidas (Spain)The deadline for bid submission is 1pm Kuwaiti time on 12 November 2024 and a pre-tender meeting is due to take place at 9am on 10 September.Bouncing backThe total value of active oil projects in Kuwait has more than doubled since the start of this year, according to data gathered by the regional project-tracking service MEED Projects.The total value of active oil projects, either in pre-execution phases or under execution, rose from $7bn at the beginning of 2024 to more than $14.9bn at the end of July.The surge in activity comes after the change in leadership that took place in the country in December last year, when Sheikh Mishal Al-Ahmad Al-Sabah became emir, taking over from his half-brother, Sheikh Nawaf Al-Ahmad Al-Sabah.Sheikh Mishal took over from his half-brother on 16 December 2023 and was formally sworn in on 20 December 2023.The sudden increase in oil project activity comes after four years of declines in the sector.The value of active oil projects in Kuwait peaked at $65.4bn on 26 February 2019 before declining to a low of $5.1bn on 11 April 2023. (ICE KUWAIT)

Fonte notizia: Meed