This contract represents a renewal of the first five-year framework agreement that was awarded to Technip Energies by KOC in 2014
Technip Energies awarded large project management consultancy contract by Kuwait Oil Company. (Credit: Terry McGraw from Pixabay)
Technip Energies (PARIS: TE) has been awarded a large contract for Project Management Consultancy (PMC) by Kuwait Oil Company (KOC).
The five-year framework agreement contract covers front-end engineering design (FEED), project management, and associated services for KOC’s major projects.
This contract represents a renewal of the first five-year framework agreement that was awarded to Technip Energies by KOC in 2014.
Charles Cessot, Senior Vice-President T.EN X of Technip Energies, commented: “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.”
A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue. As the framework agreement is call-off in nature, the overall value of the contract will be progressively added to order intake as it is called off by the client.
Source: Company Press Release