Technip lands $400 million oil services contract in Kuwait

Dec. 19, 2013 at 7:38 AM   |   0 comments

PARIS, Dec. 19 (UPI) -- French energy services contractor Technip said a $400 million contract to help with oil and gas infrastructure in Kuwait is its largest ever.

Technip announced Kuwait Oil Co. awarded the contract for consulting work on the construction and overhaul of oil and natural gas facilities in Kuwait.

"This contract is a significant milestone for Technip in the Middle East," Vaseem Khan, a vice president in charge of Middle East operations, said in a statement Wednesday.

Technip said it would lend its services to its Kuwaiti counterparts for the next five years. The contract has an option for a 1 year extension.

There was no statement from Kuwait Oil Co.

Kuwait is a member of the Organization of Petroleum Exporting Countries. OPEC said in its latest monthly market report the country produced 2.9 million barrels per day in November, a 1.5 percent increase from the previous month.

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