OPEC member Kuwait has awarded contracts for the supply of oil pipes to a number of companies with a total value of around 340 million Kuwaiti dinars ($1.12 billion), a local newspaper reported on Monday.  

State-owned Kuwait Oil Company (KOC), which manages the Gulf emirate’s upstream oil sector, awarded the deals to local firms after receiving approval from the Central Agency for Public Tenders, the Arabic language daily Alanba said.  

It quoted “responsible” oil sources as saying the pipe import package is KOC’s largest and is within its ongoing plans to expand oil exploration and production operations to boost the country’s crude reserves and output capacity.  

The first package, worth around 11.83 million dinars ($39 million), was awarded to Kuwaiti-based Dan Trading and Contracting Company, the report said.  

The second package, with a value of 209.3 million dinars ($690.7 million), was won by Kuwait’s Khuff General Trading and Contracting while the third one worth nearly 58.9 million dinars ($194.4 million) was awarded to Ahmed Fahad Al-Fahad General Trading and Contracting of Kuwait, according to the report.  

A fourth contract with a value of 59.6 million dinars ($195.9 million) was awarded to Kuwait’s Burgan One Commercial Establishment, it said.  

“The sources said KOC has already selected a number of manufacturers for the supply of pipes including Saudi Arabia, Japan, India, the US, Germany, France, South Korea, Singapore, Mexico, Indonesia, Argentina and Romania.” 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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