Mubasher: Senergy Holding Company announced that its subsidiary Eastern National Company for Oilfield Services, along with an oil company in Oman, was awarded a tender of nearly $3 million.
The tender for Eastern National Company, in which Senergy owns an indirect stake of 86.71%, is offered for up to five years, according to the company’s disclosure to Boursa Kuwait on Wednesday.
The expected profits from this tender will vary according to work conditions, while the financial impact will be registered in the financial statements of the first quarter (Q1) of 2020.
It is noteworthy to mention that during the first nine months of 2019, Senergy incurred losses of around KWD 618,660, up 45% from nearly KWD 426,600 in the same period in 2018.
