Sinopec Oilfield Service Corporation said on Sunday that has signed a workover rig contract worth $360 million with Kuwait Oil Company
The company said in a bourse statement that it will supply 10 onshore drilling rigs to KOC under a 5+1 year contract period.
It said the deal with KOC consolidates the company’s position as the largest onshore drilling contractor in the Middle East.
Earlier in February, Zawya Projects, quoting local newspapers, had reported that Kuwait has awarded contracts worth around 350 million Kuwaiti dinars ($1.15 billion to Chinese companies and other firms for the supply of 31 oil rigs.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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