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Gas Pipeline Deal Between L&T and Kuwait Oil Company Gets Extension

The gas pipeline project is valued to be about USD 450 million. The period of the agreement between Kuwait Oil Company and Larsen & Toubro would be extended for nearly 240 days, up until 26 December 2022.

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The contract with L&T has been renewed for about 240 days.

Kuwait has decided to increase the duration of its agreement with India’s engineering major Larsen & Toubro Ltd. (L&T). The contract, which was for constructing a gas pipeline spanning 145 km, is worth about USD 450 million, as published in a news daily of Kuwait. Located on the Arabian Peninsula bordering Saudi Arabia and Iraq, Kuwait is a member of the Organization of the Petroleum Exporting Countries (OPEC).

Kuwait Oil Company (KOC), a subsidiary of the Kuwait Petroleum Corporation and a government-owned holding company, is responsible for managing the Gulf emirate’s upstream sector.

KOC received approval from the Central Agency for Public Tenders (CAPT) to renew its contract for about 240 days until 26 December 2022, a leading Arab daily reported. This will enable L&T to complete the project.

Also Read: Start of a New Gas Pipeline Connecting Poland & Slovakia

It was more than three years ago, i.e. in April 2019 when KOC had selected and awarded L&T for the gas pipeline project and its associated facilities to supply the Al-Ahmadi refinery from the border gas fields in North Kuwait.

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