The Kuwait Oil Company (KOC), a subsidiary of Kuwait Petroleum Corporation, has awarded a series of major contracts valued at 208 million dinars (approximately $676.8 million) to enhance its upstream oil and gas operations. This initiative is part of Kuwait's broader strategy to increase its oil production capacity from its current maximum sustainable capacity of 2.9 million barrels per day to a target of 4 million barrels per day by 2035.

Contracts for Logging and Perforation Services

KOC has signed contracts with several international firms for specialised logging and perforation services. These services are essential for reservoir evaluation, well completion, and optimising hydrocarbon recovery. The contract winners and their respective awards are: Western Atlas International (56.34 million dinars), Halliburton Overseas (46.12 million dinars), China National Logging Corporation (50.09 million dinars), and Weatherford (55.5 million dinars). KOC stated that these awards reflect its strategic approach of partnering with leading global service providers to achieve sustainable production growth and operational excellence across its oil fields.

Additional Infrastructure Contract

In a separate development last month, KOC awarded a key 34.7 million dinar contract to Kuwait’s Mechanical Engineering & Contracting Company (MECC) for work on the Manifolds and Group Trunk Lines (MGT) project in the northern region. MECC was the lowest bidder among four competitors. The MGT project is designed to transport liquids from wells to gathering centres 29, 30, and 31.