The Kuwait National Petroleum Company Tuesday signed contracts worth $13.2 billion (11.6 billion euros) with international firms to build a refinery said to be the Gulf state's largest development project. The deal comes as Kuwait, a key oil producer, moves to modernize its energy facilities and boost its refining capabilities. The Al-Zour refinery, near the border with Saudi Arabia, is slated to produce 615,000 barrels per day and come on-stream in November 2019, KNPC CEO Mohammad al-Mutairi told reporters. The 10 foreign companies involved include Spain's Tecnicas Reunidas, China's Sinopec, South Korea's Hyundai, SK, Daewoo and Hanwha, Britain-based Fluor, Italy's Saipem and India's Essar. The new refinery will eventually be part of a complex to include a huge petrochemicals venture and a Liquefied Natural Gas (LNG) import facility, both under study, Mutairi said.
