The Kuwait Oil Company (KOC) is expected to award the engineering, procurement and construction contract (EPC) for its mega storage tanks projects by the second quarter 2022, according to a source close to the project.
“The Expression of Interest (EOI) was issued on 7 November 2021 and the bid submission deadline is 6 February 2022. The EPC tender is expected to be issued by early second quarter of 2022,” the source told Zawya Projects.
The project involves the design, procurement, manufacture, supply, erection, commissioning and performance testing of tanks for the storage of crude oil and brackish water with capacities exceeding 100,000 BBL.
The project is slated for completion over a period of three years from the award, a second source told Zawya Projects.
The first source said the estimated cost of the project is $100 million.