UK-based oilfield service company Petrofac has received a $3.7bn engineering, procurement and construction contract from Kuwait National Petroleum Company (KNPC).
Petrofac will lead a joint venture (JV) with Korea-based Samsung Engineering and CB&I Nederland to carry out work on KNPC’s Mina Abdulla (MAB1) refinery.
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Petrofac will take $1.7bn from the contract, which will take a period of around four years to complete.
The partnership will provide 19 new refining units, revamp five existing units at the Shouaiba refinery site, and revamp the accompanying inter-refinery transfer lines.
The modernisation is aimed at reaching a daily production target of around 800,000 barrels of oil a day.
Petrofac onshore engineering and construction business managing director Subramanian Sarma said that the new contract marks the company’s ninth project in Kuwait.
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By GlobalData"Along with our partners, Samsung and CB&I, I look forward to strengthening the relationship with KNPC as we deliver the project," Sarma added.
The latest contract is Petrofac’s second substantial refinery project within recent months, follownig the award of the $2.1bn Sohar Refinery improvement project for Oman Oil Refineries and Petroleum Industries Company.
Image: Petrofac onshore operations. Photo: courtesy of Petrofac Limited.
