Caixin
BUSINESS & TECH

Quick Take: Sinopec Unit Signs $1.06 Billion Contract with Kuwait Petroleum

Sinopec Oilfield Service is China’s largest oilfield service provider. Photo: VCG
Sinopec Oilfield Service is China’s largest oilfield service provider. Photo: VCG

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.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.