KOC awards $370 mln for oilfield services in Q1 2022
KUWAIT CITY, April 14, 2022 – Kuwait Oil Company has signed 23 contracts in Q1 2022 to boost oil and gas production with a combined value of USD 371 million, a local news source reported on Tuesday.
The largest of the signed agreements is a USD 135-million contract awarded in February with Schlumberger to provide oil well pumps.
The NOC also awarded UK onshore drilling company Marriott P R Drilling USD 79 million for oil rig support services.
Kuwait provided 28 additional oil tenders in the same quarter with the aim to boost production capacity to 3.5 million bopd by 2025 and 4 million bopd by 2035.