30 June 2019
Kuwait awarded oil contracts worth around 153 million Kuwaiti dinars ($505 million) in the first half of 2019, the lowest level in five years, a newspaper said on Sunday.

The projects were awarded by the state-owned Kuwait Oil Company (KOC) and the Kuwait National Petroleum Corporation (KNPC) and cover wellhead services, engineering, installation of new equipment, drilling activities and associated services, the Arabic language daily Alanba said, citing a government report.

Most of the contracts were awarded to local contractors, the report said, adding that the largest deal involved engineering services for Al-Zour oil refinery.

"The report showed that the value of oil contracts awarded in the first half of this year was the lowest in five years," it said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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