KUWAIT OIL ACCELERATES THE PACE OF AWARDING 21 CONTRACTS TO TENDERS

  • 23/08/2022

Kuwait City: Despite the slow pace of awarding and signing new contracts in the oil sector during the past months, the Kuwait Oil Company currently has 21 contracts submitted to the Central Agency for Public Tenders and is awaiting receipt of bids for those tenders during the coming period, amid expectations of accelerating the pace of receiving bids and not extending and deciding on Awards within 15 days of receiving the financial and technical offers.


Many contractors are counting on accelerating the launch of new contracts in the oil sector, after the recession that dominated all KPC subsidiaries during the past months.

The Kuwait Oil Company has a huge set of new projects to be implemented during the current fiscal year 2022/2023, coinciding with the improvement in oil prices and Kuwait's desire to maintain and increase production levels after complete liberation from the production reduction agreement implemented by the (OPEC +) alliance. Kuwait was one of the countries committed to production levels over the past years.

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