Two contracts tendered by state-owned upstream operator Kuwait Oil Company (KOC), each for the development of an oil separation facility, are expected to be worth a total of around KD396m ($1.3bn), according to industry sources.The contracts were tendered last month and the deadline for bid submission for both contracts is 16 March 2025.The first contract, estimated to be worth KD292m ($951m), is focused on developing a separation facility in the NK SA/BA Area, close to Gathering Centre 23 (GC-23) and GC-24.The scope of the contract also includes a new injection facility at GC-31 and effluent water injection networks in north Kuwait.The contract uses the build, own and operate (BOO) model.The second contract, estimated to be worth KD104m ($338m), is focused on developing separation facilities at GC-25 and a water injection facility at GC-30.It also uses the BOO contract model.The pre-tender meeting for the first contract is scheduled for 13 January and the pre-tender meeting for the second contract is due to take place on 14 January.Kuwait is in the middle of an upstream project push in line with producing 4 million barrels a day (b/d) of oil by 2035.Production capacity currently stands at about 2.9 million b/d, and the country aims to reach 3.2 million b/d by 2025 or 2026.On 10 May 2024, Kuwait’s Emir, Sheikh Mishal Al-Ahmad Al-Sabah, announced the indefinite suspension of parliament in a televised speech.Under Kuwaiti law, parliament can be suspended for a maximum of four years.Prior to the suspension of Kuwait’s parliament, the country suffered from very low levels of project awards for several years due to political gridlock and infighting between the country’s cabinet and parliament. (ICE KUWAIT)

Fonte notizia: Meed