Kuwait Oil Company (KOC) has awarded a contract for project management consultancy (PMC) to Technip Energies (TE), a French engineering and technology company.
The five-year framework agreement contract covers front-end engineering design (FEED), project management, and associated services for KOC’s major projects.
This contract represents a renewal of the first five-year framework agreement worth $400 million that was awarded to Technip Energies by KOC in 2014. This dealt with the construction of new oil and gas infrastructure facilities, as well as the upgrading of existing facilities, in Kuwait.
“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 large award for Technip Energies is a contract award representing between $265 million and $530 million of revenue. As the framework agreement is call-off in nature, the overall value of the contract will be progressively added to order intake as it is called off by the client.
Over the years, Technip Energies has become a contractor of choice for PMC services. Our group has been successful in supporting clients’ business objectives and consistently delivering projects with outstanding safety and environmental performance that meet cost, schedule and quality targets.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.