Kuwait firm wins $38mln oil deal in Neutral Zone

It includes supply of heavy equipment to Wafra oilfield

Image used for illustrative purpose. Oil worker drilling for oil on rig

Image used for illustrative purpose. Oil worker drilling for oil on rig

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24 October 2019
OPEC member Kuwait has awarded a contract worth 11.45 million Kuwaiti dinars ($38 million) to local company for the supply of heavy equipment to the state operator of Wafra oilfield in the Neutral Zone, the company has said.

In a statement on Kuwait's bourse, Al Imtiaz Investment Group said one of its affiliated firms has been awarded the project to supply equipment to the government-owned Kuwait Gulf Oil Company (KGOC), which jointly operates Wafra oilfield along with Saudi Aramco.

"The contract is for five years and it involves the supply of basic and non-basic heavy equipment for KGOC," the statement said without identifying that firm.

The Neutral Zone, also known as the divided zone, is shared by Kuwait and Saudi Arabia and has two major oilfields with an output capacity of nearly 500,000 barrels per day (bpd). The two Gulf neighbors have been locked in negotiations to resume production that has been halted for nearly five years.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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