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Wed 6 Apr 2011 05:19 PM

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Kuwait signs $552m gas tank contract with GS Engineering

Tanks will have a capacity of 723,000 cubic metres and will be built in Mina Al-Ahmadi refinery

Kuwait signs $552m gas tank contract with GS Engineering
GAS STORAGE: Kuwait National Petroleum Co signed a KD153m ($552m) contract with Korea’s GS Engineering & Construction Corp. to build 10 storage tanks for butane and propane gases (Bloomberg Images - for illustrative purposes only)

Kuwait National Petroleum Co
signed a KD153m ($552m) contract with Korea’s GS
Engineering & Construction Corp. to build 10 storage tanks for
butane and propane gases, an official said.

The tanks will
have a capacity of 723,000 cubic metres and will be built in the Mina
Al-Ahmadi refinery, Mohammed Al Ajmi, a spokesman for the state-run
refinery operator, said on Wednesday in a phone interview in Kuwait City. The
contract will be for 36 months, he said.

Mina Al Ahmadi,
located south of Kuwait City, is the country’s largest oil-processing
plant with a capacity of about 460,000 barrels a day.

Kuwait, holder
of the world’s fifth-largest oil reserves and the fifth-biggest
producer in the Organization of Petroleum Exporting Countries, pumped
2.4 million barrels of crude a day in March, according to Bloomberg
data.

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