Combined Group Contracting Company (CGC) has signed a contract of a tender about the joint operations by Kuwait Gulf Oil Company and Saudi Arabian Chevron.

The contract, which has a duration of 48 months, is worth KWD 7.88 million ($26.05 million).

CGC was awarded two tenders presented by the Saudi transport ministry for $49.3 million (SAR 184.44 million or KWD 14.79 million).

Combined Group’s capital totals KWD 11.16 million, distributed on 111.6 million shares with a par value of 100 fils per share.