National Petroleum Services (NAPESCO) announced a disclosure to the Kuwait Stock Exchange that its subsidiary, United Oil Projects Company, has signed a contract to purchase shares in United Q’Max Drilling Fluids Company , worth 2,000,000 US dollars , for owning 49% of the company’s shares. 

It is worth noting that United Oil Projects Company owns 51% of United Q-Max’s shares, and upon completion of this deal, United Q-Max will become 100% owned by United Oil Projects Company.

The contract will be executed, and the ownership of the shares will be transferred in accordance with the legal procedures followed, and it is expected that this contract will result in an increase in the profitability of United Oil Projects Company and the size of the general budget.