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KNPC inks KD 3.4 bln-worth contracts of clean fuel project
April 13, 2014, 9:31 pm
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Kuwait National Petroleum Company (KNPC) signed Sunday with three consortia the contracts of an ambitious Clean Fuel Project (CFP) with total cost of KD 3.4 billion or (USD 12.1 billion).

In a big ceremony held at KNPC's headquarters and attended by Minister of Oil Ali Al-Omair and oil industry leaders, KNPC's CEO Mohammad Ghazi Al-Mutairi signed the contracts with three consortia led by Japan's JGC Corp, Britain's Petrofac and U.S.-based Fluor Corp.

The consortia will upgrade Mina Al-Ahmadi, Mina Abdulla 1 and Mina Abdulla 2 refineries to increase their production capacity and produce clean (low sulfur) fuel at a total cost of KD1.36 billion, KD1.07 billion and KD962 million respectively. "This is one of the State Development Plan's biggest projects and is also part of the Kuwait Petroleum Corporation's long-term strategy," Al-Omair told reporters on the sidelines of the signing ceremony.

Al-Omair, also Minister of National Assembly Affairs, said that the contracts' signing is the real start of the mega project which will be completed by mid-2018. "The project would provide Kuwait with low sulfur fuel, a product that could be easily marketed on local and international markets," the Minister said.

He stated that the project would enable KNPC to enter new markets thanks to the high quality and competitiveness of its products.
"The total refining capacity of Mina Abdulla and Mina Al-Ahmadi refineries after the clean fuel project completion will go up to 800,000 barrels a day," he said. For his part, the KNPC's CEO Al-Mutairi cheered the contract signing of the landmark project.
"This is a new breakthrough for Kuwait oil industry," Al-Mutairi said at the start of the ceremony.

"It represents a qualitative jump in creating work opportunities, protecting the environment, boosting our competency, opening new markets and implementing new technologies. He pointed out that the CFP project and new Zour refinery project will increase Kuwait's total refinery capacity to 1.45 million bpd.

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