South Korea's SK Engineering & Construction has won a US $624 million (KD180 million) contract from Kuwait Oil Company (KOC) to design and reconstruct GC-24, a crude oil gathering centre damaged during the Gulf war in 1990/91.
The company fended off competition from six international companies for the contract.
The package involves the design, procurement, engineering and reconstruction of GC-24, which is in the Sabriyah field, 50km north of Kuwait City.
Upon completion - anticipated to be in 42 months - GC-24 is expected to produce 165,000 barrels of crude oil per day.
"This deal not only illustrates SK Engineering & Construction's reputation as a leader in plant construction, but also the company's growing stature as a preferred major construction partner for global industry players," said Yoo Woong Suk, president and CEO, SK Engineering & Construction.
"We will continue to pursue the major construction opportunities that deliver strong returns to shareholders and that enhance the company's position as a top-tier, global engineering and construction company."
SK Engineering & Construction has won nine major construction projects in Kuwait over the past 10 years, the contracts for which total $3.2 billion.
The company has also worked on projects in other areas of the Middle East along with Mexico and Indonesia.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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