The offshore drilling project is one of the most important projects to be implemented within KOC’s 2040 strategy, says Emad Sultan, KOC’s CEO
Kuwait Oil Company (KOC) has signed an integrated offshore drilling services contract with Halliburton for six high-pressure high-temperature (HPHT) exploration wells on two jack-up rigs in the Arabian Gulf.
According to a statement from Halliburton, the company will provide and manage drilling, fluids, wireline and perforating, well testing, coring, cementing, coiled tubing, and all offshore logistical services through Halliburton Project Management.
Additionally, Halliburton will provide the offshore rigoffshore s and supply vessels for the project. The contract is for three years with a 6 month extension option, according to the service provider.
Emad Mahmoud Sultan, chief executive officer of KOC made the announcement: “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.”
Meanwhile, Halliburton’s 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.”
Halliburton added that work is expected to begin in mid-2020, while the expected start date for the first rig is July 2020 and the second rig is January 2021.