Saudi firm wins $275m Kuwait oil services deal

23 January 2014

Saudi Arabia’s Al-Khorayef to supply and install electrical submersible pumps in Kuwait

State-upstream operator, Kuwait Oil Company (KOC) has awarded a $275m deal to Saudi Arabia’s Al-Khorayef for the supply, install and operation of electrical submersible pump systems (ESPs) in Kuwait.

The five-year contract, which has an optional one-year extension, was signed on 21 January by Hashim Sayed Hashim, KOC’s CEO and Saad al-Khorayef, the chairman of the Saudi firm.

ESPS systems are used to aid the flow of crude oil from the reservoir to the wellhead when the natural pressure is insufficient to force the trapped oil to the surface.

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