Kuwait Oil Company (KOC) has announced that top Indian engineering and construction conglomerate Larsen & Toubro (L&T) has emerged as the lowest bidder for its key Jurassic Light Oil (JLO) Export Facilities & Upgrading of Existing Export Network project followed by leading British international energy services company Petrofac. 

The L&T bid at a price of KD303.5 million ($988.8 million), while Petrofac's pricing stood at KD310.5 million ($1.01 billion), said KOC in a statement.

The scope of work includes the construction of new storage facilities for Kuwaiti export crude and Jurassic light crude, along with the upgrade of existing crude export infrastructure, it added.-TradeArabia News Service