Indian, UK firms win most of Kuwait’s oil deals in July-Aug

Two Indian companies and one British firm emerged as the main winners of Kuwait’s oil contracts in July and August, grabbing nearly $2.3 billion out of the total $4 billion awarded during that period, a Kuwaiti newspaper reported on Thursday.

The government-owned Kuwait oil company (KOC), which manages the Gulf emirate’s massive hydrocarbon sector, signed a total 40 contracts with around $4 billion during July and August, the highest deal in two months over the past years, the Arabic language daily Al Anba said, quoting KOC sources.

July was the busiest month for oil contracts in years, with $2.9 billion worth of deals signed, the paper said, adding that deals worth $1.1 billion were signed in August.

Contracts worth around $2.3 billion were awarded to Larsen & Toubro Limited and Dodsal of India and to the UK’s Petrofac, the report said.

It said the contracts won by those three firms involved the construction of three oil gathering centres in north Kuwait.

Other deals included a $500-million contract for the supply of 38 oil well drilling towers won by some local firms, a $247 million seismic survey for Burgan oilfield and a $285 million contract to build an oil pipeline in north Kuwait won by the Kuwaiti combined group contracting company, the report added.

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