Kuwaiti contractor Khalid Ali Al-Kharafi & Brothers Company has been awarded three contracts in Kuwait worth a total of $660m, including an oil remediation contract from state-owned Kuwait Gulf Oil Company (KGOC).KGOC has signed a contract with Al-Kharafi for a $80m remediation contract at Kuwait’s Wafra oil field, according to industry sources.On top of this, Al-Kharafi has also been awarded a construction contract by Kuwait’s Public Authority for Housing Welfare (PAHW) worth $530mThe scope of the construction project includes developing 1,985 houses, six schools, four mosques, asphalt roads and street lights.The third contract recently awarded to the Kuwait-based contractor is for embassy security fences.This $50m contract has been tendered to improve security at foreign embassies in Kuwait.The project’s scope includes installing advanced surveillance and security systems.Targeting remediationAl-Kharafi has recently gained significant experience working on remediation projects and is looking to win more oil clean-up contracts in the Middle East and North Africa region.The company is executing two major oil clean-up contracts with state-owned upstream operator Kuwait Oil Company (KOC).The contracts are part of the multibillion-dollar project known as the Kuwait Environmental Remediation Programme (Kerp).Khalid Ali Al-Kharafi & Brothers is executing its Kerp projects in partnership with Lamor Corporation, a Finland-based company specialising in oil spill response, waste management and water treatment.KOC awarded the two companies the two major oil remediation contracts in June 2021. Each package involves remediating 2.6 million cubic metres of soil.One of the packages, the North Kuwait Excavation, Transportation and Remediation Project-2A (NKETR-2A), has a value of $194m.The second contract, worth $197m, is known as the South Kuwait Excavation, Transportation and Remediation Project-2A (SKETR-2A).Kerp is the largest environmental remediation project in the world and was established by the UN Compensation Commission to allow Kuwait to address the ecological damage resulting from the 1990-91 Gulf War.The latest contract focused on the Wafra field is not part of Kerp.The Wafra field is located in the Partitioned Zone between Kuwait and Saudi Arabia.Both countries equally share the natural resources contained in this region.The area is operated jointly by Kuwait Gulf Oil Company, which represents Kuwait, and Saudi Arabian Chevron, which represents Saudi Arabia.Spending plansEarlier 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