Kuwait-Mubasher: Contracting and Marine Services said on Thursday that its subsidiary Kuwait Drilling Co. was awarded a KWD 103.9 million ($343 million) tender by Kuwait Oil Co.
The tender is to supply six drillers over the next five years, and may be renewed for an additional one year, the company said in a statement to the bourse on Thursday.
The subsidiary is expected to generate annual net earnings of 3% of the total contract value, and this percentage may be changed due to the implantation conditions.
