Kuwait, an OPEC producer, has given the green light to the construction of its inaugural major oil industrial hub, and numerous companies are vying for the project.
The Kuwait National Petroleum Company (KNPC), a state-owned entity responsible for managing the country’s downstream sector, is overseeing this endeavour in the Southern Al-Ahmadi Governorate, according to reports.
Initially, KNPC had set September 19 as the deadline for bids. However, it was decided last week to extend the bidding period until October 3, as per the accounts provided by Al-Jarida and Alanba dailies.
The zone, as outlined in the report, is tailored to accommodate oil and gas industries, aligning with Kuwait’s broader economic diversification strategies. This project is anticipated to generate around 1,300 job opportunities and contribute nearly $4 billion to Kuwait’s GDP, as stated by Alanba. After the deadline, KNPC will engage in a pre-qualification process to assess potential bidders for the project.
Source : Oil & Gas