Kuwait considers another new refinery
12 December, 2017 | By WIL CRISP
International engineering consultancies are bidding for a 2030 oil and gas masterplan study in Kuwait, according to an industry source.
The winner of the contract will be responsible for looking at whether the country needs another new refinery.
The study will estimate future domestic hydrocarbons needs as well as how Kuwait might benefit from increasing exports of refined products.
The study will look at which projects can be implemented by 2030 and what the benefits will be.
“Kuwait is keen to launch a new oil refinery project,” says the source. “One of the aspects of this study will be looking at whether this will benefit the country and what kind of refinery will be needed.”
Kuwait already has three giant refinery schemes currently under execution.
Construction work is ongoing on a megaproject to build a $17bn refinery in the Al-Zour region, known as the New Refinery Project.
State-owned Kuwait Integrated Petroleum Industries Company (KIPIC) is the project owner and says the scheme is due to be completed before the end of 2019.
The main engineering, procurement and construction (EPC) deals for the New Refinery Project were awarded in mid-2015, and are all currently under execution.
Kuwait is also currently overhauling and expanding two other refineries as part of its $14bn Clean Fuels Project 2020.
A project consisting of two packages is currently under execution and includes expanding and upgrading the Mina Abdullah refinery.
Another project to expand and upgrade the Mina al-Ahmadi refinery consists of one package and is also under execution.
All three packages were awarded in February 2014 and are expected to be completed in mid-2018.
Related Posts
Imminent award of Mecca mobility strategy contract could be an important development for many stakeholders
The award of the Mecca mobility strategy contract, which includes the feasibility study for the first ...
READ MORE
With several government initiatives under way to promote the UAE as one of the world’s most innovative construction markets, MEED, in partnership with Mashreq, will look at the new technologies ...
READ MORE
There is a widespread expectation that the tax regime will grow
On 21 May, the UAE cabinet agreed to allow 100 per cent foreign ownership of companies in the UAE and 10-year visas ...
READ MORE
Understand the Covid-19 outbreak, its impact on the global and regional economy, and initial implications for specific sectors
Click here to download the full document
READ MORE
Middle East and North African banks face a difficult 2021 amid weaker profits and the pending end of liquidity stimulus measures
After an epoch-changing 2020, it may be rash to make ...
READ MORE
UKEF has capacity to fund £9bn of schemes in the UAE and £4.5bn in Saudi Arabia
The growing interest from project clients for using export credit facilities to fund their projects ...
READ MORE
A look back at the history of attempted PPP projects in the region highlights a catalogue of failures
When looking back on the history of the GCC projects market, we can ...
READ MORE
Government-led projects will be the focus for construction across the region in 2019 while public-private partnership schemes remain in vogue
The region’s construction market over the past five years has been ...
READ MORE
The opportunities for ensuring sustainable food supply in the UAE and GCC
Food security has long been a priority issue in the Gulf. Faced with a hot, arid climate and limited ...
READ MORE
Surge in activity has come amid increased gas production
Egypt’s petrochemical projects market has more than doubled in less than four years, with the value of active projects in the sector ...
READ MORE
Mecca mobility strategy award could be game-changer
Join our live broadcast on how today’s innovations
New UAE companies law could be a precursor
Coronavirus executive briefing from MEED
Mena lenders trudge into a tougher year
UK to support export credit deals with dedicated
Is this the end of public-private partnerships in
The region’s project pendulum swings
Investing in food security
Egypt’s petrochemical projects market triples in value
12 December, 2017 | .By WIL CRISP
