Kuwait-listed Combined Group Contracting Company (CGCC) announced on Thursday it has submitted the lowest bid for a contract to build a pipeline to export gas from Wafra Joint Operations venture owned by Saudi Arabia and Kuwait.

CGCC said in bourse statement that it has submitted a bid with a value of around 12.7 million Kuwaiti dinars ($42 million) for the project which involves “the construction of pipelines to export gas from Wafra field to an export terminal” in the Neutral zone which is shared by the two Gulf oil producers.

“We have submitted the lowest offer for that project but we have not yet received a formal confirmation letter for the award of the contract,” CGCC said, adding that the project would be completed within 30 months.

In a separate statement, CGCC said it has won a contract to build flow lines and associated works at productive oilfields in Southeast Kuwait. The statement said the project was awarded by the state-owned Kuwait Oil Company and it has a value of KWD3.88 million ($12.8  million).

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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