Kuwait Petroleum Corporation (KPC) board agreed Monday to go-ahead with the establishment of refinery and petrochemical complex in Vietnam, Oil Sector spokesman said. Board members of state-owned KPC agreed to go-ahead with the construction of the refinery and petrochemical complex in Vietnam during a meeting earlier in the day, chaired by KPC Vice-Chairman and CEO Nezar Al-Adsani, Sheikh Talal Khaled Al-Sabah told KUNA. Kuwait National Petroleum Co said Tuesday it has signed a $516 million contract with South Korean Daelim Industrial for the repair and expansion of sulphur processing facilities at the Gulf state’s largest refinery of Mina Al-Ahmadi.
Daelim will undertake all processes from design, engineering, and construction to test run, besides installing new equipment that includes large tanks for liquefied sulphur, KNPC spokesman Mohammad al-Ajmi said in a statement. The contract also includes modernising the sulphur platform and navigation systems at Mina Al-Ahmadi, the main crude oil exporting terminal in Kuwait, Ajmi said.
Daelim said on its website that when completed in 2015, the project will raise Kuwait’s annual sulphur output from 850,000 tonnes to two million tonnes. OPEC member Kuwait has three refineries with a daily production capacity of around 930,000 barrels a day, almost half of which comes from Mina Al-Ahmadi. The emirate has already initiated building of a new state-of-the-art refinery with an output capacity of 615,000 bpd at a cost of around $14 billion.
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