$4.2b Oil Contract

$4.2b Oil Contract$4.2b Oil Contract

Kuwait has awarded a $4.2 billion contract to develop heavy oil fields in the north of the country, the central tenders committee announced. The project, called Lower Fars Heavy Oil Development Phase 1, was awarded to UAE-based Petrofac International and the Athens-based Consolidated Contractors Company, the largest construction firm in the Middle East, TradeArabia reported.