AMEC Wins Major Oil Contract in Kuwait

(Click to Enlarge)
AMEC has won a major contract to manage US$5billion of oil field projects in Kuwait. The contract with the Kuwait Oil Company (KOC) confirms AMEC's position as a major project manager in the region, and this is the first time the contract previously held by Parsons and Bechtel, has been awarded to a non-US company.

The five-year contract, which is for an undisclosed sum, covers project management of KOC's upstream oil assets in the south of the country, and there is an option to extend the contract by two years.

"We are delighted to be supporting KOC on this exciting and complex contract," said Sir Peter Mason, AMEC's chief executive. "This win endorses our expertise in oil and gas, project management and the Middle East, where we already have extensive operations."

Working closely with KOC personnel, AMEC will manage all KOC activity in the south of Kuwait, where KOC is seeking to develop existing oil fields using enhanced recovery techniques. AMEC will assess the oil fields and how to improve their performance, develop budgets, draw up contracts for KOC to award, and oversee all engineering work as well as providing environmental consultancy, risk management advice and training. The contract covers not only oil fields and related assets but also the infrastructure KOC needs to support its 5,000 staff working in the region.

The contract is expected to involve 70-80 AMEC people based in the UK and up to 160 in Kuwait.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
Updated in last 24 hours