Kuwait invests 27 billion to upgrade refineries
Kuwait City ( AsiaNews / Agencies) - Kuwait is preparing to invest 27 billion US dollars to upgrade its oil refineries. The Kuwait National Petroleum Company yesterday signed contracts for 12 billion US dollars (nine billion Euro) with three international consortia for the modernization of two refineries and invited proposals for projects to build a new refinery costing 15 billion US dollars.
consortia are led by the UK's Petrofac, the U.S. Fluor and Japanese JGC
of the other companies in the consortium are South Korean.
According to KNPC manager, Mohammed al- Mutairi, the program should be completed in 2018. Mutairi said that the aim of the project, called Clean Fuel Project, is the modernization of two of the three existing refineries in Kuwait, with the installation of 37 advanced systems capable of refining to reduce sulfur and coal pollutants.
Currently the production capacity of the two refineries of Mina Al-Ahmadi (pictured) and Mina Abdullah is about 730 thousand barrels per day, while that of the third refinery, Shuaiba, is about 200 thousand barrels per day. Following their upgrading, the production capacity of the first two is expected to reach 800 thousand barrels per day, while the third is to be closed. It will give way to a new plant capable of refining 615 thousand barrels per day, thus bringing the country's production capacity to 1.4 million barrels per day.
The start of operations for the new system, with an expected cost of about 15 billion US dollars, is forecast for late 2018 and the first quarter of 2019.