Heisco lands $109m Kuwait gas network upgrade contract
KUWAIT CITY, 2 days ago
Heavy Engineering Industries & Shipbuilding Company (Heisco) has announced that it has secured a major contract from Kuwait Oil Company for the upgradation of gas and condensate network at East Kuwait Area -II.
A Kuwait-based EPC contracting company with a diversified range of business in oil and gas, Heisco said as per the KD33.6 million ($109 million) deal with KOC, the entire work will be completed within a three-year period.
The project is aimed at boosting the infrastructure, pipelines and associated facilities in bid to optimise the transportation and distribution of gas and condensate resources.
Scope of the project includes the expansion and upgrade of condensate network along with construction of pipelines networks, and other related civil works, said Heisco in its filing to Boursa Kuwait.
On the financial effect, Heisco said the revenue will be shown in annual financial statements for 2025 and 2027, it added.-TradeArabia News Service
