Kuwait’s PIC signs contract with US Jacobs Engineering

Deal for polypropylene plant in Canada

KHOBAR, Saudi Arabia, Nov 4, (RTRS): Kuwait’s Petrochemical Industries Co (PIC) has signed a contract with US firm Jacobs Engineering to carry out engineering and design work for a planned polypropylene plant it co-owns in Canada, Kuwait’s state news agency reported on Saturday.

Kuwait and its neighbours including Saudi Arabia are expanding their petrochemicals footprint abroad, offering them a diversified feedstock for their growth in the sector.

Canada Kuwait Petrochemical Corp (CKPC), a joint venture between PIC, which is a subsidiary of staterun Kuwait Petroleum Corp (KPC), and Canada’s Pembina Pipeline Corp, plans to develop the facility.

Jacobs will be in charge of carrying out front-end engineering and design for a propylene and polypropylene facility in Alberta. The work includes identifying costs and a timeframe for the project. No value for the contract was given.

Work on the project is expected to be completed in the fourth quarter of 2018, KUNA reported, citing a PIC statement.

Pembina said in a statement in May that the preliminary capital cost estimate for the project is $3.8-$4.2 billion.

The facility is expected to consume 22,000 barrels per day of propane produced in Alberta, it said in May.

This file photo taken on April 25, 2008 shows a Shell fuel tanker pictured inside the Grangemouth Oil Refinery in Grangemouth, central Scotland on April 25, 2008. Royal Dutch Shell said on Nov 2, that net profit almost tripled to more than $4.0 billion in the third quarter, helped largely by recovering oil prices. Profit after tax rocketed to $4.087 billion (3.505 billion euros) in the three months to September from $1.375 billion in the third quarter of 2016, the

Anglo-Dutch energy giant said in a statement. (AFP)