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US PetroTel Wins $30mn Kuwait Oil Consultancy Deal

The US PetroTel Company has won an oil consultancy contract in Kuwait with a value of around 8.99 million dinars ($30million).

 

The firm was among five companies which had bid for a contract tendered by the state-owned Kuwait Oil Company (KOC), which manages the OPEC member’s upstream oil operations.

 

The other bidders were Oman-based Target Oilfield Services, France’s Beicip-Franlab as well as Halliburton and Robertson Energy of the US, said KOC sources.

 

“KOC is planning to sign the contract with PetroTel after it submitted the lowest bid…the contract includes providing technical consultancy in oil and gas to KOC,” they added.

 

It noted that the value of bids submitted by the other companies ranged between 9.3 million Kuwaiti dinars ($30.7 million) and 9.9 million dinars (32.67 million).

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