The Kuwait Oil Company (KOC) said it had signed a $132 million oilfield contract with British construction and engineering services firm Amec Plc.

However, KOC denied it had signed a $5 billion contract with Amec. This was in response to Amec’s statement recently that it had won a contract to manage $5 billion worth of oilfield projects in Kuwait.
“Kuwait Oil Company categorically denies the signing of the alleged $5 billion contract with Amec,” KOC said in a statement sent to Reuters.
A spokesman for Amec said in response to KOC’s statement:
“Amec would point out that its announcement on a recent contract award in Kuwait did not suggest that the company had secured a $5 billion contract. It referred only to the value of projects the company would manage on behalf of its client, the Kuwait Oil Company.”
State-run KOC said the value of the contract it signed did not exceed $132 million to Amec. Industry sources had told Reuters the deal was worth around $300 million.
Kuwait, a mainly desert state with 2.2 million people, holds one-tenth of the planet’s oil reserves.
“The deal stipulates offering consultancy work from the British company for projects launched by the (Kuwait Oil Company),” KOC’s manager of public relations and media Badr Al-Zwair said  in a statement on the Kuwait News Agency.
KOC did not give further details of the contract.