Chinese oil exploration and production firm Sinopec has won a SR43.6m ($150m) contract for the supply of drilling rigs to Kuwait Oil Company (KOC).
The company awarded the contract to the Chinese firm on 8 July, according to an official notice on KOC's website.
KOC say the deal covers rigs for drilling and workover operations, to increase production at existing oil wells.
In April, KOC awarded a $402m contract for the supply of an initial batch of drilling wells (MEED 7:4:09).
China and Kuwait have been working to improve ties, with the Gulf state targeting exports of 500,000 barrels a day (b/d) to the Asian country by 2015.
The two countries have also signed an agreement to jointly develop a $9bn refinery in China.
You might also like...
Ohana begins Abu Dhabi project construction
25 September 2026
Breaking silos on Saudi megaprojects
25 September 2026
Bahrain retenders Hawar desalination works
25 September 2026
Saudi Arabia Railways signs phosphate rail supply deals
25 September 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
