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Technip Energies Secured PMC Contract For $535m From KOC | |
| Sumita Pawar |
According to the TradeArabia News Service, Technip Energies, a leading engineering and technology company for the energy transition, has secured a large project management consultancy contract from Kuwait Oil Company (KOC).
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The report said that the five-year framework agreement is worth between €250 million and €500 million ($267 million and $535 million). It covers front-end engineering design (FEED), project management, and other services for KOC's major projects.
The contract represents a renewal of the first five-year framework agreement that was awarded to Technip Energies by KOC in 2014.
After winning the contract, Charles Cessot, Senior Vice President of Technip Energies, happily expressed, "We are delighted by the continued confidence shown by KOC with this award to support them on their major developments." This award reinforces the strong and lasting relationship we have built with KOC and reaffirms our outstanding consultancy delivery as well as our long-standing presence in Kuwait.
A statement in the report says, "Technip Energies has in 2021 secured a significant project engineering and management services (PEMS) contract from Kuwait Integrated Petroleum Industries Company (KIPIC) for various projects in southern Kuwait."
The six-year contract covers PEMS' work for various potential projects in the Al Zour complex, including its refinery, petrochemical complex, and LNG import facilities belonging to Kipic, concluded the report.
By Sumita Pawar