Combined Contracting Group Company (CGCC), which is listed on Kuwait’s bourse, on Thursday confirmed it has been awarded a contract for gas gathering in the Neutral Zone jointly managed by Kuwait and Saudi Arabia.

CGCC said in a bourse statement that it has received a letter awarding the project with a value of 10.2 million Kuwaiti dinars ($33 million).

The project is based in Al-Wafra Joint Operations, managed by Kuwait Gulf Oil Company and Chevron Saudi Arabia.

“The contract is related to support services for the gas gathering project..operating profits are expected to be realized and will be reflected in the company’s financial statements during the period of the contract,” it said.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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