France-headquartered global engineering company Technip Energies announced on Thursday that has been awarded Project Management Consultancy (PMC) contract by Kuwait Oil Company (KOC).

The five-year framework agreement contract covers front-end engineering design (FEED), project management, and associated services for KOC’s major projects.

The statement didnt quantify the contract value but said it was 'large,' which Technip defines as representing between €250 million and €500 million of revenue. 

It said the contract represents a renewal of the first five-year framework agreement that was awarded to Technip Energies by KOC in 2014.

As the framework agreement is call-off in nature, the overall value of the contract will be progressively added to order intake as it is called off by the client, the statement said.

Charles Cessot, Senior Vice-President T.EN X of Technip Energies, commented: “We are delighted by the continued confidence shown by KOC with this award to support them on their major developments. This award reinforces the strong and lasting relationship we have built with KOC and reaffirms our outstanding consultancy delivery as well as our long-standing presence in Kuwait.”

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)