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S. Korean Firm Wins USD 741.8 Million Orders from KOC

Source: KUNA 8/23/2011, Location: Middle East

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South Korea's third-largest builder GS Engineering Construction Corp. has clinched two orders worth KRW 800 billion (USD 741.8 million) to build electricity and oil facilities in Kuwait, Yonhap News Agency reported.

Under a deal with Kuwait Oil Company (KOC), valued at KRW 600 billion (USD 556.4 million), GS Engineering will construct facilities to maintain pressure at oil wells in an oil field of Burgan, some 35 kilometers south of Kuwait City, the report said. GS Engineering will equip some 90 wells out of 220 with the pressure-maintaining facilities by 2014.

Another KRW 200-billion (USD 185.5 million) contract with Kuwait's Ministry of Electricity and Water calls for building facilities, including a water-purification system and water pipes, according to the report. The facilities expected to have a daily processing capacity of 1.46 million tons of water will be completed by 2013.

GS Engineering said the deal is the first water purification project that the builder has ever clinched. GS Engineering also won a USD 556 million deal to build a gas storage facility in Kuwait in April this year.

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Related Categories: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 

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