Quick Take: Sinopec Unit Signs $1.06 Billion Contract with Kuwait Petroleum
Sinopec Oilfield Service Corp., the oilfield service arm of China’s state oil giant Sinopec, said a wholly owned subsidiary signed a $1.06 billion drilling equipment contract with a unit of Kuwait Petroleum Corp.
The value of the contract between Sinopec International Petroleum Service Corp. and Kuwait Oil Co. (KOC) is equivalent to more than 14% of Sinopec Oilfield Service’s 2017 revenue, according to the company.
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