State-owned Kuwait Petroleum Corporation (KPC) given the go signal for one of its associates to move forward with a joint petrochemical assignment in Canada at a cost of almost $3.28 billion, the Gulf's oil minister has said.
Khalid Al-Fadhil informed Parliament this week that the Propane dehydrogenation (PDH) and polypropylene plant in Alberta would produce nearly 550,000 tonnes a year and could be a 50-50 percent joint undertaking between Kuwait's petrochemical industries organization and Pembina pipeline of Canada.
Quoted through the Kuwaiti daily a
Al-Anba, he stated front end engineering design was finished final year and that the assignment might be equally funded by using the companions.
"The undertaking has received the necessary approvals from KPC and Pembina board to push beforehand with the EPC (engineering, procurement, creation) stage," he said.
Newspapers said in Sept that the venture could be presented in Oct and that it'd be commissioned in 2023.
Kuwait Petroleum Corporation is k
Kuwait's national oil organization, headquartered in Kuwait town. The Kuwait petroleum corporation is centered on petroleum exploration, production, petrochemicals, refining, advertising and marketing, and transportation. KPC produces approximately 7% of the arena's overall crude oil.
KPC plans are to obtain crude oil manufacturing capacities in Kuwait of 3.0 million barrels per day by 2010, 3.5 million barrels per day by 2015 and 4.0 million barrels by 2020.Its sales were US$251.94 billion in 2014.
Tags : Petrochemical , KPC,