KUWAIT, April 2 (KUNA) -- The Kuwait National Petroleum Company (KNPC) is expected to offer the initial study for Al-Mutlaa oil depot project, worth USD 400 million, for bidders in June, KNPC's Deputy CEO for Administrative and Commercial Affairs Basem Al-Issa said on Sunday.
The project is to be completed in four years' time, including bidding, assessment, approvals and construction, Al-Issa told the third session of the Consultation Partnership Advisory Council (CPAC) on behalf of the KNPC's CEO.
He added that the company is hard at work to achieve the strategic vision of the Kuwait Petroleum Corporation (KPC) for supporting the national economy through offering the opportunity to the local private sector to act as a chief contractor in the state's grand projects.
The KPC has allocated several activities for the private sector to take part in such as the plant for mixing oils, in addition to establishing 19 fuel stations, out of a total of 100 ones to meet the needs of the urban expansion in Kuwait, Al-Issa said.
He stressed the importance of establishing partnership with the local private sector, manufacturers, contractors, suppliers and consultants for the good of all.
According to the statement, the KNPC has tasked its affiliate companies with six strategic initiatives for increasing the local components on the oil sector. (end) osj.ht.amh.msa