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FINANCIAL NEWS
Kuwait’s KOC awards Petrofac USD200m contract
29 Sep 2012
(MENAFN) London-based Petrofac has won a USD200 million engineering, procurement and construction (EPC) contract to build a new power distribution network in north Kuwait, The Construction Week reported.
The project, which was awarded by Kuwait Oil Company (KOC), includes building three new substations and lay around 900km of buried cable to connect the stations.
The project, scheduled for completion in complete in two years, aims to boost power supply to support the development of the onshore oil fields in North Kuwait.
Marwan Chedid, CEO of Petrofac’s Engineering, Construction, Operations & Maintenance (ECOM) division, said the contract is Petrofac’s eighth EPC project for KOC, and it builds on a long history of working together successfully.
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