KUWAIT ASSIGNED $15.6 BILLION TO IMPLEMENT OIL AND GS PROJECTS

  • 13/09/2022

Kuwait City:  Kuwait has allocated about 15.6 billion dollars to implement oil and gas projects during the coming years, which are divided into several stages according to the progress achieved, as there are 4.3 billion dollars worth of projects in the implementation stage, and 100 million dollars of projects in the stage of Submission of major contract offers.


The magazine added that there are projects worth $680 million in the bid evaluation stage, $950 million in the planning and initial designs stage, $592 million in the phase of prequalifying contractors for the main contract, and finally $8.9 billion in projects in the study stage.

MEED stated that recent developments indicate opportunities for companies seeking to win projects in Kuwait, as there are increasing indications that 2023 could bring a higher level of oil and gas contracts to be awarded compared to 2022.

The magazine revealed earlier from this month, it announced the approval of the budget for two major projects in the field of exploration and production, with a total value of more than 1.3 billion dollars for the Kuwait Oil Company. The first relates to projects of 4 assembly centers in the east of the country, worth 700 million dollars.

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