Kuwait has awarded UAE-based Petrofac International and Greece-based Consolidated Contractors Company (CCC) a US$4.2bn contract to develop Lower Fars heavy oilfield in the north of the country
The Lower Fars Heavy Oil Development Phase 1 project includes plans to produce 60,000 bpd of heavy crude by 2018 and to build the infrastructure facilities for further phases, the country’s central tenders committee has announced.
The single engineering, procurement and construction (EPC) tender includes five main parts covering a steam injection facility, production facilities, a support complex, tank farms and a 270,000 bpd pipeline to transport the heavy crude to the planned new refinery in the south of Kuwait.
In Phase 2, production is expected to double by 2020. The OPEC member, currently pumping around 2.8mn bpd, was planning to raise its output capacity to four million bpd in 2020 from 3.3mn bpd currently.
In 2014, Petrofac was awarded contracts worth US$12bn to upgrade two of its three oil refineries in Kuwait and procedures have been underway to award contracts worth US$15bn to build a new 615,000 bpd refinery.
When the two projects are completed by 2018-19, the refining capacity is expected to be boosted to 1.4mn bpd from 930,000 bpd now.
READ MORE…
KOC awards US$700 million gathering centre contract to Petrofac
