Kuwait Oil Co. (KOC) has awarded Turkey’s Tekfen Construction and Installation Co. a USD 222 million contract to build eight crude oil storage tanks. Each storage tank will have a net capacity of 618,000 barrels. The new tanks will raise KOC’s current crude oil storage capacity from 16 million barrels to 20.9 million barrels. The tanks will be built at KOC’s South Tank Farm and the first three tanks are expected to be commissioned November 2006 under Phase I of the project, with the remaining five to be commissioned July 2007. Under the contract, Tekfen will construct the eight tanks, install pipelines, an electrical system, a fire prevention system, and an environmental protection related system.
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