Mubasher: The Energy House Holding, a company listed on Boursa Kuwait, announced that one of its subsidiaries received a subcontract to offer hydraulic services to the Saudi Arabian Oil Co (Saudi Aramco).

The contract is valued at nearly $40 million, with a duration period of three years, according to a bourse statement on Sunday.

Energy House clarified that the operational works should commence in the third quarter of 2018.

The Kuwaiti company expected operating profits will be listed in the consolidated income statements for fiscal year ending on 31 December 2018, based on the accomplishment phases of this contract.