Mubasher: Senergy Holding Company on Tuesday announced that its 86.71%-owned subsidiary has been awarded a six-year agreement from Kuwait Oil Company (KOC) at a value ranges from KWD 11 million to KWD 12 million.

Under the contract, Senergy’s unit will provide seismic and drilling services for KOC, according to a statement to Boursa Kuwait.

Senergy Holding forecast that the deal will generate a net earning ranging between 9% and 14% of its value, while these profits will be realised on the financial results of the third quarter of 2019.

The firm last reported turning to losses in Q4-18 after suffering KWD 108,080, against a profit of KWD 979,140 during Q4-17.