KUWAIT CITY, Jan 14: Kuwait Oil Company (KOC) has awarded consulting contracts worth $738 million to various international companies at the end of last year, reports Al-Rai daily quoting MEED Magazine. The magazine stated that the contracts, which are valid for five years, were awarded to three international companies -- American company KBR, Australian company Worley and French company Technip; indicating the value of each contract exceeds $200 million.

According to the report, KOC usually puts up management consulting contracts for bidding. It explained that there have been no announcements about major projects in Kuwait’s oil and gas sectors over the past few years for various reasons like the corona pandemic, global deviation from fossil energy and internal political situation. The magazine also affirmed that certain decisions, including the implementation of reforms, are aimed at reviving the national economy; which has been facing problems due to the National Assembly’s opposition to the decisions of the government.