Kuwait's Combined Group Contracting Company (CGCC), listed on the local stock exchange, announced on Thursday that it has secured a major contract to construct a gas export pipeline for the Wafra Joint Operations, a project jointly managed by Saudi Arabia and Kuwait.
In a disclosure to the stock market, CGCC confirmed it had received an official letter awarding the contract, valued at approximately 12.7 million Kuwaiti dinars (equivalent to around $42 million).
The contract, awarded by the state-owned Kuwait Oil Company (KOC), involves building the necessary infrastructure to transport gas and is slated for completion within 30 months, according to CGCC’s statement.
This project comes amid broader efforts by Saudi Arabia and Kuwait to enhance energy cooperation. In late 2022, Saudi Aramco and Kuwait Oil Company signed a memorandum of understanding to jointly develop the Durrra gas field, situated in the Neutral Zone shared by both nations. The Durrra field is projected to produce about 280 million cubic meters of gas and around 84,000 barrels of liquefied natural gas (LNG) per day once operational.
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