As of 6th August 2002, the name of Abdul Aziz Yousuf Al-Essa & Co. is changed to ARABI ENERTECH KSC. This has been necessitated due to the fact that our company will shortly be quoted in the Kuwait Stock Exchange and the regulations of Kuwait Stock Exchange does not permit us to use an individual’s name as the Company name. Hence the change. However, we will be using both the names for another two years, till the name change is carried out in all the relevant documents and till the new name has become familiar with all our principals, clients and well-wishers.
Our telephone numbers and fax numbers will remain the same. Our new e-mail ID is enertech@qualitynet.net Please also do visit our website www.arabienertech.com.
The change is only in the name, but our professionalism, reputation, dedication to the Energy Sector and customer/client relations will remain the same, if not more aggressive. There is also no change in the Management and Staff.
May we request you to make note of these changes.
News Round Up
Kuwait Power Users up by 2.4%
Kuwait’s Ministry of Electricity & Water has issued their Annual Report for 2001, according to which the electricity consumers in Kuwait increased to 330,120 during 2001, outnumbering the consumers in 2000 by 2.4 per cent. 87.4 per cent of the electricity produced in Kuwait in 2001 was consumed by houses and residential buildings. The Report also highlighted the water projects executed in 2001 and those in the pipeline in 2002. The report says the Ministry produced 91,535 million gallons of potable water in 2001 – 3.5% higher than 2000. Consumption also increased by almost the same rate, the report said.
US Companies compete for KOC Mega-Project
Three US companies are competing to bag a tender worth US$ 800 Million floated by the Kuwait Oil Company (KOC). The projects covered under the tender include Construction of a Storage Area for Crude Oil and another project for expanding the sea-freight base including pumps, pipelines and cable to boost the oil-exporting capacity. Several international companies were qualified to bid for the project, but only three US companies have decided to enter the fray.
The bids have to be submitted before 10th November 2002 and the successful bidder is expected to complete the project before the end of 2004.
This project is expected to shoot up the oil production levels up to five million barrels per day (bpd) and augment oil exporting capacity by an additional one million bpd.
Kuwait Stock Exchange Index
The Kuwait Stock Exchange Market index is around 2,141.
Awarded
ARABI ENERTECH has been recently awarded the following projects:
1.
Replacement of Corroded Hydrocarbon Piping Sections in Gas Plant, Mina Al-Ahmadi Refinery.
Client : Kuwait National Petroleum Company
Value : US $ 6 Million
2.
Upgrading of Fixed Fire Protection System for two Product Storage Tanks (TK-254/TK-725) at Mina Al-Ahmadi Refinery.
Client : Kuwait National Petroleum Company
Value : US $ 0.5 Million
3.
Replacement of Relay-based System with PLC System for Sulfur Handling Facilities and Parallel Operation in Gas Plant Central Control Room at Mina Al-Ahmadi Refinery.
Client : Kuwait National Petroleum Company
Value : US $ 2 Million
4.
Demolishing and Removal of Material and Equipment from BS-130 and GC-15 in North Kuwait Areas
Client : Kuwait Oil Company
Value : US $ 6 Million
5.
The following project is in the final stages of award:
Pipeline Repair Services in South, East, West and North Kuwait Areas
Client : Kuwait Oil Company
Value : US $ 26 Million
Forthcoming Projects in Kuwait
1.
Reconstruction of Gathering Center No.15 (GC-15) in North Kuwait
The Government of Kuwait has finalized the project for Reconstruction of GC-15 in North Kuwait, which was destroyed by fire recently. M/s. Fluor Daniel are tipped to be the Project Management Consultants (PMC).
2.
North Kuwait Development Project
The Government of Kuwait will be taking the final decisions on the famous North Kuwait Development Project during the next session of the Parliament.
As a prelude to this major job, a project for Demolition and Removal of the destroyed Equipment & Materials, Removal of contaminated Soil and backfilling with fresh soil has already been awarded to ARABI ENERTECH for a value of US $ 6 Million. The work has already started.
3.
New Petrochemical Complex
M/s. Petrochemical Industries Company (PIC), a state-owned company in Kuwait have planned a large Petrochemical Complex comprising of the following plants:
1. Olefins Complex II to produce Polyethylene and Ethylene Glycol.
2. Aromatics Complex to produce Xylene, Paraxylene and Styrene.
Foster Wheeler, Flour Daniel, Ameco and Bechtel are in the fray for selection as Project Management Consultants.The award is expected to be announced shortly.
4.
New Thermal Power Station Project
The Ministry of Electricity & Water of the Government of Kuwait is planning a 2400 MW Thermal Power Station Project at Mina Al-Zour in South Kuwait to meet the increasing demand of power in Kuwait. The contract will be basically divided into three parts namely Civil Works, Boilers and Turbines, and each carry a price tag of about us $ 500 Million.
