Mubasher: The Energy House said that its subsidiary in the UAE was awarded a petroleum services contract in Oman.

The contract has a value of $40 million, and will mature in four years that can be renewed for one year, according to a bourse statement issue on Monday.

The financial impact from this contract will be realising operating profits in the third quarter’s consolidated statements for 2017.

At the stock level, Energy House closed Monday’s session 5.88% lower at 48 fils, after 1.37 million shares were traded at a value of nearly KWD 68,910.