Kuwait announced that it has qualified around 70 local companies, particularly the small and medium-sized petroleum enterprises, to be awarded by the Kuwaiti government, Zawya reported.

This comes as a part of Kuwait Petroleum Corporation (KPC)’s strategy to manage the Kuwaiti hydrocarbon sector.

The Kuwaiti company plans to qualify more oil and gas firms in order to bid for services, manufacturing, and supply contracts.

KPC announced the terms for any firm to be qualified for oil and gas contracts in the Gulf country.

These terms include submitting accurate data on sales, profit, and financial resources.