SK Engineering & Construction awarded US$ 624 million Kuwait Oil Company construction project contract
SK Engineering & Construction Co., Ltd. (SK E&C) announced today that it is the sole recipient of a USD 624 million project with KOC (Kuwait Oil Company), a state-owned oil enterprise of Kuwait. SK E&C prevailed in the bidding competition among six international companies. The project will involve the design and reconstruction of a crude-oil gathering center damaged during the Gulf War of 1990-1991.
Activities involved in this turnkey project, which will be located 50 kilometers north of Kuwait City in the Sabriyah field, include the design, procurements, engineering, and reconstruction of GC-24 (Gathering Center). Upon completion – anticipated in 42 months – GC-24 is expected to produce 165,000 barrels of crude oil per day.
“This deal not only illustrates SK E&C’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 Mr. Yoo Woong Suk, President and CEO of SK E&C. He also said, “SK E&C 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.”
Over the past ten years SK E&C has been awarded nine major construction projects in Kuwait (including this current one) – the contracts of which have an approximate total value of USD 3.2 billion. The company’s expertise and experience in the engineering and construction field are widely recognized in 16 different countries around the world, including the Middle East, Mexico, and Indonesia where it holds or previously held business projects.