|17 February, 2020

Napesco seals $360mln deal with Kuwait Oil Company

Napesco may realise a profit margin of 12.5%

Image used for illustrative purpose. Kuwait Oil Tanker employees oversee the loading of crude oil into the new Kazimah III Oil Tanker at Ahmadi North Pier in Kuwait.

Image used for illustrative purpose. Kuwait Oil Tanker employees oversee the loading of crude oil into the new Kazimah III Oil Tanker at Ahmadi North Pier in Kuwait.

REUTERS/ Stephanie McGehee

Mubasher: National Petroleum Services (Napesco) announced the signing of a tender contract worth KWD 109.6 million with Kuwait Oil Company (KOC) for the execution of operations and services on coiled tubing.

The five-year deal is expected to generate a12.5% profit margin of the contract's value (estimated at KWD 13.7 million) subject to the project’s workflow, according to a statement to the Kuwaiti bourse on Sunday.

On 12 February, Napesco was awarded the said tender.

Source: Mubasher

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