Kuwait’s Engineering Industries and Ship-building Company (HEISCO) has signed a contract to provide drydocking services to oil vessels in the Gulf state.

The deal, with a value of 4.99 million Kuwaiti dinars ($16 million) has been awarded by the state-owned Kuwait Oil Company (KOC), the OPEC member’s upstream arm.

In a bourse disclosure statement on Monday, HEISCO said the contract involves the “provision drydocking services for KOC marine vessels.”

Revenue from the contract will be shown in annual financial statements during 2025-2028, the Company said.

(Reporting by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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