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China’s SOEs Are the Largest Oil Drilling Contractors in Kuwait

According to an article that China.org published, China’s State Owned Enterprises (SOEs) broke through the domination that the U.S. and the European countries held and became the largest oil drilling contractors in Kuwait, which is considered a strategic partner of China’s “one belt one road” project. The SOEs have built 53 teams in Kuwait and employ over 3,000 Chinese and foreign workers. They own 53 drillers and hold 45 percent of the oil drilling market share. The article claimed that by the end of first quarter in 2017, China’s SOEs will be responsible for a total of 64 projects in the amount US$13.7 billion in Kuwait. The projects range from oilfield services, exploration, refinery, housing, and infrastructure, to telecommunications.

Source: China.org, July 16, 2017
http://news.china.com.cn/2017-07/16/content_41222830.htm

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