Kuwait’s Heavy Engineering Industries and Shipbuilding Company (HEISCO) has been awarded a local gas network contract with a value of around 33.5 million Kuwaiti dinars ($110 million).

It said in a weekend bourse statement that the Central Agency for Public Tenders (CAPT) has approved the awarding of the project, which had been tendered by the Kuwait Oil Company, the OPEC member’s upstream arm.

The contract involves “upgrading of gas and condensate network” at oil facilities in east Kuwait, the statement said.

According to the Kuwaiti Alanba daily, HEISCO won the contract against some companies, which had offered lower bids after they failed to meet set terms.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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