Eric Watkins
Senior Correspondent
LOS ANGELES, May 24 -- South Korea's SK Engineering & Construction Co. have signed a $1.2 billion contract with Kuwait Oil Co. to upgrade production sites boost Kuwait's oil output capacity.
SK will build 10 oil-gathering centers and a gas booster station in fields southeast of Kuwait City.
SK, responsible for the entire project, plans to complete construction in July 2007.
In December, SK Corp. agreed to buy crude oil from Kuwait Petroleum Corp., the parent company of KOC, over 10 years.
