A total of seven companies are considering bidding on two oil projects in Kuwait that are estimated to be worth a total of $1.9bn.These include a project to develop Separation Gathering Centre 1 (SGC-1) and Water Injection Plant 1 (WIP-1), and a separate project to develop SGC-3 and WIP-3.Each project is estimated to be worth KD300m ($970m).Industry sources said that the companies that attended a pre-tender meeting for the project earlier this week included:Petrofac (UK)Saipem (Italy)Tecnicas Reunidas (Spain)Larsen and Toubro (India)Samsung (South Korea)Hyundai (South Korea)Daewoo (South Korea)Earlier this year, Kuwait Petroleum Corporation (KPC) chief executive Sheikh Nawaf Al-Sabah reiterated that his company plans to increase its oil production capacity to 4 million barrels a day by 2035.About 90% of Kuwait’s oil production comes from KOC, which also plans to achieve a daily gas production capacity of 1.5 trillion cubic feet by 2040.Kuwait is estimated to have 100 billion barrels of oil reserves.Under KPC’s 2040 strategy, it plans to invest $410bn, which will come from its cash flow, debt and joint ventures with other businesses.Out of the $410bn, KPC and its subsidiaries intend to invest $110bn to accomplish the group’s energy transition targets. (ICE KUWAIT)

Fonte notizia: Meed