Project Worth USD1.3 Billion Awarded to Petrofac for Kuwait Region

Increasing gathering center projects in Kuwait are projected to increase the Oil & Gas Pipeline market in the country.

Kuwait: Petrofac has been awarded a gathering center project for Kuwait Oil Company (KOC). The gathering center (GC 32) is located at Burgan oil field in the southeast direction of Kuwait. The project consists of Engineering, Procurement and Construction (EPC) and will develop a sour gathering center in the field which will process the oil and gas that are recovered from four fields namely, Arifjan, Marat, Minagish Oolite and Bargan Wara. The project is likely to complete by 2020 and is projected to have a production capacity of about 120,000 bopd collectively for water, gas and condensates.

TechSci Research depicts that the production of oil & gas from the fields are likely to increase the pipeline market in the country. Crude oil and natural gas are transported from producing regions to various consumption centres through a network of pipelines. Global crude oil prices are stabilizing in 2016, resulting in an expanding city gas distribution network and increasing digitization in pipeline infrastructure. Growing production from offshore fields, replacement of aging pipelines, and rising innovation for exploration of unconventional energy resources such as growing use of hydraulic fracturing technique to extract oil & gas from shale rocks, are anticipated to propel global oil & gas pipeline market.

According to released report of TechSci Research, “Global Oil & Gas Pipeline Market, By Application, By Type, By Region, Competition Forecast and Opportunities, 2012-2022”, the global oil & gas pipeline market is projected to surpass $61 billion by 2022. Asia-Pacific garnered the largest share in the global oil & gas pipeline market in 2016, and the region is forecast to continue dominating the market in the coming years. Few of the major players operating in the global oil & gas pipeline market include Gazprom, BP, CNPC, Wingas, Kinder Morgan, Chevron Corporation, Royal Dutch Shell among other companies.