Kuwait Oil Co (KOC) has awarded 9 contracts totaling KD971mn ($3.16bn) to a mix of native and worldwide drilling contractors as a part of a plan to acquire 44 new drilling rigs over 5 years.
In accordance with a 26 Might report by native each day al-Anbaa, the awards had been made on 19 Might for some 27 new rigs of various hydraulic horsepower capacities. The most important single contract at KD194mn ($631mn) went to United Precision Drilling, a Kuwaiti JV grouping native United Oil Initiatives and Saudi driller ADES. In a press release on Saudi Arabia’s Tadawul, ADES says the award is for six rigs, with contracts anticipated to begin over 2Q-3Q 2025 for 5 years, with a one-year elective extension. (CONTINUED – 227 WORDS)
Learn this text at no cost
Acquire entry to over 60-years of power evaluation and information
Delve into the main points backed by information
Unique info from high-level officers
Assess future dangers and alternatives
Supply hyperlink
