Mubasher: National Petroleum Services (Napesco) was awarded a KWD 7.74 million ($25.4 million) tender by Kuwait Gulf Oil Company (KGOC) and the Kuwait-based Saudi Arabian Chevron Inc.
Under the five-year tender, Napesco will provide environmental services for sludge treatment, according to a statement to the Kuwaiti bourse on Wednesday.
The deal is set to be signed by the two parties in the first half of March 2020.
Moreover, Napesco predicted a profit margin of 7% for the said contract subject to the project’s execution conditions and workflow.
It is noteworthy that during the first nine months of 2019, Napesco's net profits grew by 6.16% to KWD 6.68 million from KWD 8.18 million in the year-ago period.
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