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Bids on a $4.27bn engineering and procurement (EPC) tender for first phase, 60,000 b/d, development of the Ratga heavy oil field (12-16°API) in North Kuwait close on 11 May.
However, the deadline for EPC contractors to submit their finalized bids may be extended by a further month, Hashim Hashim, CEO of Kuwait Oil Company (KOC) – which operates onshore oil fields as a subsidiary of Kuwait Petroleum Corporation (KPC) – told reporters this week on the sidelines of CWC’s 3rd Kuwait Oil and Gas Summit.
Reviewing bids will take about three months before a recommendation is made to the Supreme Petroleum Council (SPC). Award is expected by October, Mr Hashim says. (CONTINUED - 2257 WORDS)