“Spetco” presents the lowest offers of the two Jurassic production projects.

Production Facilities (JPF) contracts, known as JPF-4 and JPF-5. According to industry sources, bids for the project were submitted two days in advance by five contractors.

 “MEED” indicated that “Spetco” provided $ 489.45 million for the JPF-4 project, and $ 489.45 million for the JPF-5 project, which is the lowest bid compared to the rest of the bids submitted.

The value of the two major contracts for the JPF-4 and JPF-5 projects is estimated to be more than $ 1 billion, as the facility known as JPF-4 is set to be located near the Sabriya field in northern Kuwait, and JPF-5 will be located less than 10 kilometers east of JPF-4.

Both facilities will be used to test, process and handle wet and sour hydrocarbon wells fluids from multiple oil and gas fields. Both projects are onshore surface production facilities and will be executed on a build-of-own-and-operate (BOO) basis by the contractor, with an option for KOC to buy them back at a later date.            

Source: Meed

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