쿠웨이트 쥐라기(Jurassic) 가스필드 프로젝트 PQ 숏리스트 Kuwait Oil Company tenders Jurassic field’s developing contract

Kuwait Oil Company tenders Jurassic field’s developing contract

쿠웨이트 쥐라기(Jurassic) 가스필드 프로젝트 PQ 숏리스트

Jurassic gas fields 쥐라기 가스 필드 위치도. source oilpro.com

edited by kcontents 

케이콘텐츠 편집

쿠웨이트 북서부 지역의 East Raudhatain, West Raudhatain, West Sabriya and Umm Niqa  필드의 쥐라기  가스 필드의 입찰에서 모두 14개업체가 PQ에 통과했다고 발주처가 발표했다. 총 11.7억불 규모로 3개 패키지로 나누어 집행하며 패키지당 한개 회사만 참여할 수 있다. 입찰 마감 시한은 9월 29일이다. 당초 이 쥐라기 오일 프로젝트는 2010년에 영국 페트로백사(하도급사 이태리 사이펨)가 BOT방식 으로 15.5억불에 수주했으나 자금조달이 여의치 않아 무산되고 말았다. 14개의 PQ 통과 숏리스트는 다음과 같다. 스위스 ABB  이태리 사이펨  사우디 Al Khorayef Commercial 중국 CPECC 그리스 CCC 한국 대우건설, GS건설 삼성물산  쿠웨이트 GDMC 일본 JGC 미국 Process Unlimited와 쿠웨이트 Al-Rashed 캐나다 SNC Lavalin 미국 Schlumberger 프랑스 테크닙 by Ki Chul Hwang  Conpaper  Editor Distributor  황기철  콘페이퍼 에디터

Andrew Stalker  

State upstream operator Kuwait Oil Co. (KOC) has floated a tender for the development of four gas fields in the Jurassic Basin, resurrecting a landmark project that faltered earlier in the decade over various financial and contracting issues.

The move comes at a time when the Kuwaiti government is being made acutely aware of the harmful consequences of the country’s gas shortage, as increasing imports of LNG weigh on coffers struggling with the impact of lower oil revenues. Impetus to move forward with upstream development has also been provided by the ongoing dispute and production stoppage at the fields in the Partitioned Neutral Zone (PNZ) shared with Saudi Arabia.

As Kuwait sought in early August to cool tensions inflamed by the leak of an angry written exchange between the neighbours’ oil ministers, both the gas development tender and the award of the main contracts on the long-awaited new refinery project appear to indicate that publicly-aired tensions within the Kuwaiti oil industry are not at present hindering decision-making on major strategic projects, as some observers had feared.

The tender issued to the 14 pre-qualified contractors covers development of the Jurassic reservoirs of the onshore East Raudhatain, West Raudhatain, West Sabriya and Umm Niqa fields in the northeast. The work is divided into three packages each aimed at producing 40,000 barrels of oil equivalent per day (boepd) and costing an estimated combined total of US$1.17 billion, with companies only eligible to be selected for one package.

Bids are due by September 29. The desire to mitigate the risk involved by reliance on a single firm is understandable in light of recent experience: the local Kharafi National was awarded an estimated US$1.55 billion contract on a build-own-transfer model to develop the north’s Jurassic formations in late 2010 but after the selection first of UK-based Petrofac then Italy’s Saipem to carry out the main subcontract, the scheme stalled, apparently over Kharafi’s inability to secure finance.

Neither Kharafi nor Petrofac are believed to be on the short-list for the new contracts. Saipem does appear on the list, however, along with Swiss-based ABB, Saudi firm Al Khorayef Commercial, China Petroleum Engineering and Construction Corp. (CPECC), Athens-based Consolidated Contractors Co. (CCC), Daewoo Engineering & Construction, GS Engineering & Construction and Samsung Engineering, all of South Korea, the local GDMC, Japan’s JGC Corp., American firm Process Unlimited (US) with the local Al-Rashed, Canada’s SNC Lavalin, the US’ Schlumberger, and France’s Technip.

A second Jurassic field development project targeting output of around 150,000 boepd is due to be tendered during the first half of 2016, although given Kuwait’s reputation for long delays to the contracting process, any swift progress appears improbable.

A longstanding goal of raising output to 4 million barrels per day now appears unachievable after years of wrangling to find a contract model combining – to the satisfaction of a perennially-suspicious parliament – absolute sovereignty over reserves with the harnessing of international oil company (IOC) expertise. Consequently only in January was a US$4.2 billion deal to develop heavy oil at the northern Ratqa fields signed on an engineering, procurement and construction (EPC) basis with Petrofac. But the PNZ shutdowns first in October at the offshore Khafji field and then in May at the onshore Wafra acreage have concentrated attention, with plans for the first development of Kuwait’s own offshore territory also having accelerated. The start of work was announced on August 10 on a wide-ranging 3-D seismic study for KOC by BGP, a subsidiary of China National Petroleum Corp. (CNPC), covering Kuwait Bay and the surrounding area from Bahra in the north to Burgan in the south east.

Kuwait lacks the spare capacity cushion enjoyed by its better-endowed neighbour to absorb such shocks and output fell in May and June before steadying at 2.703 million bpd in July, according to OPEC’s August monthly report – despite KOC’s pledge to boost production at other fields to compensate for its half of the 550,000 bpd of oil lost from the PNZ.

While the development of gas would not provide a direct substitute, its domestic substitution for oil as a fuel would help to meet rapidly-rising consumption and free up crude for export. According to data from BP, local oil use leapt by 35% in the decade to 2014 to 505,000 bpd. Expansion at the same rate over the next two decades would lift the figure to nearly 1 million bpd and severely eat into state income in the absence of major upstream expansion. Kuwait’s frustration with Riyadh over the loss of the PNZ earnings was exposed in the letter leaked in late July from Oil Minister Ali al-Omair to his Saudi counterpart demanding a resumption of operations at the Khafji field and decrying the financial losses being suffered at a time when low oil prices have already pushed the Kuwaiti budget balance into deficit during the fiscal year ending in March for the first time since 1999/2000.

http://oilpro.com/post/17658/kuwait-tenders-jurassic-gas-field-development

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