SLB has been awarded a $1.5 billion, five-year built-in improvement contract by Kuwait Oil Firm (KOC) to help the following stage of improvement on the Mutriba subject in Kuwait.
Underneath the settlement, SLB will present end-to-end subject improvement companies, together with built-in design, improvement planning and manufacturing administration. The contract expands SLB’s function at Mutriba as the sphere strikes into extra technically complicated phases of improvement, concentrating on high-pressure, high-temperature (HPHT) reservoirs with bitter circumstances.
The award builds on SLB’s present subsurface and reservoir work at Mutriba and displays a broader trade shift towards built-in supply fashions geared toward decreasing execution danger and bettering capital effectivity in mature and technically demanding fields.
“This award displays the energy of our long-standing partnership with Kuwait Oil Firm,” mentioned Steve Gassen, government vice chairman, Geographies, SLB. He added that the brand new scope positions SLB to help “secure, dependable execution in complicated reservoir circumstances” as improvement progresses.
Kuwait continues to advance large-scale upstream tasks as a part of its technique to maintain manufacturing capability and handle more and more difficult reservoirs. The Mutriba contract underscores the rising function of long-term, built-in service agreements in Center East subject improvement, notably as operators search to optimize efficiency throughout deeper and extra bitter reservoirs.