Mubasher: The Kuwait Oil Company (KOC) will announce the final winning proposal in the KWD 150 million ($494.60 million) gas pipeline project in February, sources told Kuwaiti newspaper Al-Seyasa.
The gas pipeline extends from northern Kuwait to Mina Al Ahmadi Refinery.
KOC is currently evaluating the offers it has received in the tender, taking into considering various financial and technical aspects before its unveils the tender winner next month, they said.
India’s Larsen and Toubro (L&T) has submitted the lowest bid at KWD 145 million, the sources told the newspaper, noting that among the other top bidders were Italy Saipem, South Korea’s SK and S&S.
The project, whose implementation has been extended to range between 38 and 40 months, is a strategic one for KOC amid forecasts of a need to raise gas production in the coming period, the sources indicated.
This increased gas output will require the KOC to speed up the pace of its products to keep up with developments and growing demand, they added.
It is worth noting that 12 companies are competing in KOC’s gas pipeline tender.
