Monday 21 October 2019

Halliburton and KOC officials at the signing ceremony.

Halliburton wins Kuwait offshore drilling services contract

KUWAIT CITY, July 3, 2019

Kuwait Oil Company (KOC) has awarded an integrated offshore drilling services contract to top oil field service company Halliburton for six high-pressure high-temperature (HPHT) exploration wells on two jack-up rigs in the Arabian Gulf.

Through the Halliburton Project Management, the company will provide and manage drilling, fluids, wireline and perforating, well testing, coring, cementing, coiled tubing, and all offshore logistical services, said the statement from KOC.

Additionally, Halliburton will set up offshore rigs and supply vessels for the project, it added.

On the new contract, KOC CEO Emad Mahmoud Sultan said: "As part of KOC’s plan to increase production capacity by charting new territory in Kuwait’s offshore reserves, our company is pleased to announce that we will be working on this ambitious project alongside one of our closest business partners, Halliburton, who will be assisting us through the provision of their many years of experience in the field of offshore exploration and production."

Established in 1934, KOC is responsible for the exploration, production and export of the country’s hydrocarbon resources.

The contract includes a three-year term with a 6-month extension option. Work will begin in mid-2020, stated Sultan.

Halliburton Eastern Hemisphere President Joe Rainey said: "We are grateful for the opportunity to collaborate with KOC and implement our integrated services and innovative technologies to accelerate offshore development, reduce drilling and completions costs and increase recovery."

The expected start date for the first rig is July 2020 and the second rig is January 2021, he added.-TradeArabia News Service


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