Technip Energies, Kuwait Oil Company Extend PMC Contract For Another 5 Years

Technip Energies N.V. (THNPF, THNPY), a French engineering and technology firm, said on Thursday that it has renewed a framework agreement contract for Project Management Consultancy or PMC by Kuwait Oil Company or KOC, for another five years.

The first five-year framework agreement was awarded to Technip Energies by KOC in 2014.

The contract covers front-end engineering design, project management, and associated services for KOC's major projects.

The contract represents revenue of 250 million euros to 500 million euros.

"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," the French firm said in a statement.

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