Technip Energies has secured a “large” contract for project management consultancy by Kuwait Oil Company, it said on Thursday.
This 5-year framework agreement contract covers front-end engineering design, project management as well as associated services for Kuwait Oil Co’s key projects.
This award is a renewal of the first 5-year framework agreement, which Technip Energies had secured by Kuwait Oil Co in 2014.
“We are delighted by the continued confidence shown by KOC with this award to support them on their major developments. This award reinforces the strong and lasting relationship we have built with KOC and reaffirms our outstanding consultancy delivery as well as our long-standing presence in Kuwait,” Charles Cessot, Senior Vice President T.EN X of Technip Energies, said in a press release.
Technip Energies considers as a “large” contract any award that represents between EUR 250 million and EUR 500 million of revenue.
As of 11:52 GMT on Thursday, the shares of Technip Energies BV (TE) were gaining 5.30% (EUR 0.81) to trade at EUR 15.98 in Paris.