Technip Wins Kuwait Oil Company Deal

French oilfield services firm Technip reported Wednesday that it has won a $400 million, five-year contract from the Kuwait Oil Company (KOC) for project management and engineering services.

The deal will see Technip's personnel work with KOC staff in a range of different services, including project management, feasibility studies, front-end design, project controls, planning, procurement and construction management. Technip will also train KOC project staff.

Technip will manage the contract from an operating center created specifically for its KOC work and which will be based at KOC's headquarters in Ahmadi, Kuwait. Further support will be provided by Technip's organization in the Middle East as well as by the group's operating center in Milton Keynes, UK.

Riccardo Moizo, senior vice president at Technip Project Management Consultancy, commented in a company statement:

"We are proud to have been awarded this contract by KOC. This award establishes Technip as one of the top-tier project management consultancy companies worldwide. It has been fueled notably by skills and assets gained from the acquisition of Stone & Webster Process Technologies in 2012."

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