Generation
Posted By OrePulse
Published: 28 Apr, 2025 10:55
Spetco wins $415mln Kuwait oil deal
Kuwaiti-based Spetco International Petroleum Company has won a contract for the construction of Jurassic oil production facilities and a sulfur treatment unit in Kuwait, press reports said on Monday.
The value of the contract is around KWD126.5 million ($415 million) and it also comprises the installation of pressure control systems at the oil site in North Kuwait, the Arabic language daily Alanba said.
It quoted oil sources in the Gulf emirate as saying the Central Agency for Public Tenders has approved a request by the state-owned Kuwait Oil Company to award the project to Spetco.
“Spetco was awarded the contract after it submitted the lowest bid for the project in KOC’s Jurassic production facilities in North Kuwait,” it said.
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