Kuwait has awarded an oil pipe supply contract to a local company with a value of around 18.7 million Kuwaiti dinars ($61.7 million), a local newspaper said on Monday.

The government-owned Kuwait Oil Company (KOC), which manages the upstream sector in the OPEC member, awarded the deal to Satco Energy General Trading and Contracting Company, the Arabic language daily Al-Anba said.

KOC has signed the contract with Satco following approval by the Central Agency for Public Tenders, the report said, citing KOC sources.

The contract involves the supply of pipes to be used in oil well drilling operations in KOC's facilities, it said, adding that Satco won the deal after submitting the lowest bid.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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