Kuwait – Mubasher: Kuwait Drilling Company, a subsidiary of Contracting and Marine Services, has been awarded a tender worth of KWD 34.07 million from Kuwait Oil Company (KOC), said a bourse filling.

Under a renewable agreement, Kuwait Drilling will provide KOC with two rigs for five years.

Contracting and Marine Services said it expects this contract to result in an annual profit margin of 3%.

The Kuwaiti listed firm's net profits retreated 44.8% to KWD 917,370 in 2014, compared with KWD 1.66 million in 2013.