Kuwait awards oil pier contract
27 February 2026
Kuwait National Petroleum Company (KNPC) has awarded local firm Gulf Dredging & General Contracting Company a $172m contract to help develop a new south arm facility at the Shuaiba oil pier.
The scope of the contract covers civil, marine, mechanical and electrical work, according to a statement.
Gulf Dredging & General Contracting Company is a subsidiary of Kuwait-headquartered Heisco.
The main contractor on the Shuaiba oil pier project is the Greek construction firm Archirodon. In October last year, KNPC awarded Archirodon a KD160m ($528m) contract to develop the new south arm facility.
The Shuaiba oil pier comprises several structures, including the approach trestle, the north arm facility and the south arm facility. A number of planned projects are to be developed at the Shuaiba port facilities.
The north arm facility consists of two berths, 31 and 32. When operational, it loads refined products for both KNPC and state-owned Petrochemicals Industries Company.
The north arm facility is currently not operational and will be upgraded as part of a separate project.
KNPC is a subsidiary of Kuwait Petroleum Corporation (KPC).
Last year, KPC chief executive Sheikh Nawaf Al-Sabah reiterated that the company plans to increase its oil production capacity to 4 million barrels a day by 2035.
About 90% of Kuwait’s oil production comes from Kuwait Oil Company, which also plans to achieve a daily gas production capacity of 1.5 trillion cubic feet by 2040.
Kuwait is estimated to have 100 billion barrels of oil reserves.
Under KPC’s 2040 strategy, it plans to invest $410bn, sourced from cash flow, debt and joint ventures with other businesses.
Of the $410bn, KPC and its subsidiaries intend to invest $110bn to accomplish the group’s energy transition targets.
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