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Sunday, September 7, 2014
L&T bags order worth Rs. 5,100 cr from M.P. State utility.
India's L&T and Dodsal win most of Kuwait's oil deals in July-Aug
Two Indian companies and one British firm emerged as the main winners of Kuwait's oil contracts in July and August, grabbing nearly $2.3 billion out of the total $4 billion awarded during that period, a Kuwaiti newspaper reported on Thursday.
The government-owned Kuwait oil company (KOC), which manages Kuwait's massive hydrocarbon sector, signed a total 40 contracts with around $4 billion during July and August, the highest deal in two months over the past years, the Arabic language daily Al Anba said, quoting KOC sources.
July was the busiest month for oil contracts in years, with $2.9 billion worth of deals signed, the paper said, adding that deals worth $1.1 billion were signed in August.
Contracts worth around $2.3 billion were awarded to Larsen & Toubro Limited and Dodsal of India and to the UK's Petrofac, the report said.
It said the contracts won by those three firms involved the construction of three oil gathering centres in north Kuwait.
Other deals included a $500-million contract for the supply of 38 oil well drilling towers won by some local firms, a $247 million seismic survey for Burgan oilfield and a $285 million contract to build an oil pipeline in north Kuwait won by the Kuwaiti combined group contracting company, the report added.
Thursday, September 4, 2014
Wednesday, September 3, 2014
Saturday, August 30, 2014
Friday, August 22, 2014
Petrofac awarded US$700 million gathering centre project in Kuwait
Petrofac, the international oil and gas services provider has received an award notification for Kuwait Oil Company's (KOC) gathering centre 29 (GC29) which is located approximately 70 km north of Kuwait City in the north of the country.
Valued at approximately US$700 million, the project will be completed over a period of approximately three years. The competitively tendered lump-sum greenfield scope of work includes the engineering, procurement, construction, pre-commissioning and commissioning of GC29.
GC29 is one of three gathering centres being constructed to support KOC's plans to increase and maintain oil production over the next five years. Each of the three gathering centres will be capable of producing around 100,000 barrels of oil per day together with associated water and gas.
Subramanian Sarma, Managing Director of Petrofac's Onshore Engineering & Construction business, commented: "We have a long track record with KOC which extends over the last 14 years and the award of GC29 represents our tenth project in the country to date. With ongoing projects for both KOC and Kuwait National Petroleum Company and good visibility of the future pipeline, Kuwait is, and will continue to be, of strategic importance to Petrofac's ambitions in the Middle East market."
Sunday, August 17, 2014
Russia, India to Start Construction of Transport / Passenger Airliner
Russia’s Sukhoi Aviation Holding Company (JSC) and its Indian partners plan to embark on the joint construction of multipurpose transport airliner, United Aircraft Corporation’s President Mikhail Pogosyan said Saturday.
“In 2013 we finished the stage of preliminary design. Today we are at the stage of discussing further implementation program and shifting to engineering development,” Pogosyan said.
He added that the final schedule has yet to be defined “based on the talks that will be held between us and our colleagues.”
Sukhoi – is Russia’s major aircraft holding company, employing more than 26,000 people. 100 percent of stock of the Sukhoi Aviation Holding Company (JSC) belongs to the United Aircraft Corporation (JSC). The Company supports a complete cycle of work in aircraft engineering: from front end engineering to comprehensive aftersales support.
“In 2013 we finished the stage of preliminary design. Today we are at the stage of discussing further implementation program and shifting to engineering development,” Pogosyan said.
He added that the final schedule has yet to be defined “based on the talks that will be held between us and our colleagues.”
Sukhoi – is Russia’s major aircraft holding company, employing more than 26,000 people. 100 percent of stock of the Sukhoi Aviation Holding Company (JSC) belongs to the United Aircraft Corporation (JSC). The Company supports a complete cycle of work in aircraft engineering: from front end engineering to comprehensive aftersales support.
Saturday, August 16, 2014
Egypt to build new $4bn Suez Canal.
| Egypt has announced plans to build a new Suez Canal alongside the existing 145-year-old waterway in a bid to boost its economy. The 72km corridor will expand the fastest shipping route between Europe and Asia and enable ships to pass each other as well as cut down on waiting times for vessels from around 11 hours to three. It is part of several mega projects designed to breathe new life into the nation, which include developing the canal ports and industrial zones. In a ceremony broadcast on state television from the canal city of Ismailia, Egypt's president Abdel-Fatteh el-Sisi officially launched the military-led scheme, set to cost $4bn. He said that digging of the new canal will allow ships to travel in both directions for just under half of the canal's 160km length. And although the initial time frame for completion was five years, el-Sisi estimated it could be finished much earlier. Among the bidders for the Suez project, according to local Egyptian media, was a group including state-run Arab Contractors and consultancy firm James Cubitt and Partners. Another included McKinsey & Co management consulting firm. However, overall control will come from the country's military. The current Suez Canal brings in around $5bn of revenues per year, a vital source of hard currency for Egypt which has suffered a slump in tourism and foreign investment since its 2011 uprising. According to reports from the Suez Canal Authority the new canal will boost annual revenues to $13.5bn by 2023. |
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