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August 13, 2021updated 12 Aug 2021 12:01pm

Kuwait Oil Company awards $221m contracts

The $221m contracts awarded by Kuwait Oil Company are for workover operations and onshore services.

By MEED   

State-owned upstream operator Kuwait Oil Company (KOC) has awarded two contracts, one for rig supply for workover operations and the second for onshore 3D seismic survey services.

The contracts have a combined value of $221m.

KOC has awarded the China-based company Bureau of Geophysical Prospecting (BGP) the onshore 3D seismic surveying contract worth $136.7m.

BGP is a subsidiary of state-owned China National Petroleum Company (CNPC).

The project scope includes a 3D seismic survey for the West Kuwait and Mutriba regions. The duration of work is 1,826 days.

In a statement, BGP said the project will use advanced high-density digital single-channel acquisition technology.

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KOC has also awarded a contract related to rig supply for workover operations to the Egypt-based oil and gas services firm Sino Tharwa Drilling Company.

The value of the contract is $84.5m, and the duration of the project is 1,826 days.

The project’s scope includes the supply of two rigs for workover operations in KOC-operated oil fields.

In February 2021, KOC awarded a $360m workover rig service contract to China’s Sinopec.

In a stock exchange statement at the time, Sinopec said it would supply 10 onshore drilling rigs to KOC over a period of six years.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.

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