KOC Renews the Program Management Contracts of Fluor and Amec for a Further Five Years

摘要

Kuwait Oil Company (KOC) has signed two more five-year contracts, one with Fluor and one with Amec, for the management of several projects and associated activities. The two contracts are of considerable strategic importance for Kuwait, since they form part of the program for increasing national oil production capacity to 4 million b/d by 2020.The contract awarded to Fluor, which is worth 334 million, renews an older contract that covered the 2003-2007 period, and according to the Chief Executive Officer of KOC, Mr. Sami al-Rushaid, it is aimed at increasing Kuwaiti oil production. It provides for Fluor to supply consulting services linked to the design, engineering, planning, coordination and preparation of contracts, handle the procurement of materials and equipment, supervise construction work and provide other services relating to the management and execution of new projects and the upgrade of existing facilities. The U.S. company explained that the new projects would include the construction of crude oil gathering centers, gas booster stations and export facilities. It added that it would book the first two years of the contract, worth about 90 million, in the first quarter of 2008.