Kuwaiti Company Wins $7m Contract in Iraq

Kuwait-based Eastern National Oilfield Services (ENOS), a subsidiary of Kuwaiti Safat Energy Holding (KUW: SENERGY), has won a $7 million (8.2 billion Iraqi dinars) contract to provide oil well testing and digging services for an unnamed company in Iraq, according to a report from ADP News.

Safat Energy reportedly released the information in a statement to the Kuwait Stock Exchange (KSE) last week. The contract is valid for a period of two years, with a renewal option.

Safat Energy, formerly Hasibat Holding, is engaged in investment activities in the oil and gas sector. It holds controlling interest in several oilfield service companies. Through its subsidiaries, Safat Energy offers wire-line and production logging, drilling, perforating, well testing and stimulation, cementing, engineering design and consulting, facility construction and maintenance and other oilfield services. The company has operations in Kuwait, Iraq, Bahrain, Libya, the United Arab Emirates, China, Pakistan and Egypt.

(Source: ADP News)

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