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Kuwait NAPESCO eyes Bahraini market

Kuwait NAPESCO eyes Bahraini market
The Kuwaiti company is interested in entering the Bahraini market
NAPESCO
NAPESCO
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Mubasher: National Petroleum Services Company (NAPESCO) plans to consider some merger offers from Kuwaiti firms in the field of oil drilling and production in the local market.

NAPESCO has all related instruments and technologies, a source familiar with the matter told Al-Jarida newspaper, adding that Kuwait is already getting ready for huge discoveries in the medium- and long-term as an attempt to raise the daily crude output.

The Kuwaiti company is interested in entering the Bahraini market, the source said.

The source further noted that the company had added shale fracking to its integrated oil services, which qualifies NAPESCO to expand locally and regionally, especially after Bahrain discovered huge quantities of shale oil.

NAPESCO is considering joint ventures with Saudi Aramco, the source said, pointing out that the company has on-going business with Kuwait Oil Company (KOC), in addition to joint cementing contracts worth up to KWD 18 million and other five-year contracts worth $80 million to end 2020.