Kuwait Gulf Oil Company (KGOC) has awarded a KWD 7.63 million ($25.1 million) contract to Al Imtiaz Investment Group, Mubasher reported.

A subsidiary of Al Imtiaz will provide mechanical maintenance services for the joint operations in the Wafrah oilfield through a five-year contract, the investment group announced in a statement to Boursa Kuwait.

Al Imtiaz Investment Group said that the deal is set to generate a profit margin of 2-4% of the contract value.

Kuwait Gulf Oil Company (KGOC) was established in February 2002, as a wholly-owned subsidiary of the Kuwait Petroleum Corporation (KPC) for upstream oil and gas operations.