(MENAFN- Arab Times) The MEED Kuwait Leadership Award 2014 has been presented to Mohammad Ghazi Al-Mutairi, CEO, Kuwait National Petroleum Company (KNPC) at the ongoing Kuwait Projects 2014 event at the Regency Hotel in Kuwait City. The award recognisesKNPC's outstanding contribution to the development of Kuwait's economy, the global oil industry and in particular, recent project progress in the Middle East.
In accepting the award on behalf of KNPC, Al-Mutairi said, "At the outset, I express my sincere thanks and gratitude for bestowing this prestigious MEED Kuwait Leadership Award 2014. KNPC and I are honoured and privileged to have been selected as the recipient of this award and we are grateful for such recognition. In this regard, I thank each and every person at KNPC and other stakeholders, as success without their hard work and support is not possible. I would also like to thank and appreciate the efforts of MEED in organizing events for sharing knowledge and providing networking opportunities. MEED has been a reliable source of up-to-date information, developments, analysis & insights that shape the future of our Industry in Middle East."
In addition, Al-Mutairi said, "As part of KPC's long term strategic plan, KNPC has embarked on ambitious programme to implement many mega projects with an investment outlay of around $40bn." KNPC being a downstream refining arm of Kuwait Petroleum Corporation plays a vital role in meeting Kuwait Energy demand by producing Local market products requirements as well for export market.
Furthermore, as per KPC strategic Directions for meeting Kuwait's long-term energy demand, KNPC is implementing two major projects - the first one is the Al Zour refinery project, having capacity to process 615,000 BPD KEC crude and will be one of the largest grass-root refinery in the world. This project will meet the low sulphur fuel requirement for Kuwait power plants and is designed to process heavy crude, thus providing an economical disposal option for Kuwaiti heavy crudes.
The EPC award for the project is expected early next year and overall project completion by May 2019.
The second project to meet local energy demand is Al Zour LNG Import facilities project, and is planned to be implemented with capacity of 3000 BBTU/Day. FEED for the same is in progress and expected to be completed shortly. The project completion is by February 2021.
The Al-Zour Refinery complex will be an integrated Refinery-Petrochemical complex having the LNG Import Facilities as well. The Al-Zour Refinery- Petrochemical study is currently in progress.
Kuwait Projects 2014 continues its second day with an update on the latest projects in the education, power and water projects as well as on financing needed for the next 10 years to support Kuwait's $160bn projects market.
The MEED Kuwait Projects Conference is organised with the support of the Ministry of Public Works, the Kuwait Direct Investment Promotion Authority and the Public Authority for Housing Welfare.
The Conference is sponsored by Drake & Scull, PACE, Ali Alghanim & Sons, ASAR & Aconex as conference sponsors. Kuwait Projects is also sponsored by CBK (Al-Tijari) as Silver Sponsor, Al Tamimi & Co as Bronze Sponsor with Mushrif Trading & Contracting as the event's Networking Sponsor. Exhibitors also include Sarenass and Khalid Ali Al-Kharafi & Brothers Company. The conference is also supported by UK Trade & Investment. For more information and to register please visit www.meedkuwaitprojects.com.
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