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Kuwait Oil Company (KOC) has awarded the engineering, procurement and construction (EPC) contract worth $140 million for Flowline and Associated Works for Exploratory and Jurassic wells in North Kuwait to Mechanical Engineering and Contracting Company.
The construction work will begin in early November 2024, with completion anticipated by early fourth quarter 2026, a source aware of the details said.
The tender for the project was issued on 25 June 2023 and bid submission deadline was 24 September 2023. Six commercial bids were submitted, with Mechanical Engineering and Contracting Company offering the lowest bid at $140 million. Other bidders included Heavy Engineering Industries & Shipbuilding Co ($218 million), Alghanim International General Trading & Contracting Company ($258.3 million), Combined Group Contracting Company ($165 million), and Apex International Group Company for General Trading and Contracting ($145.3 million).
(Reporting by Deva Palanisamy; Editing by Anoop Menon)
