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Thursday , February 25 2021

KOC succeeds in obtaining preferential prices for deals

KUWAIT CITY, Dec 5: The Kuwait Oil Company has succeeded in obtaining preferential prices for contracts for the supply of 31 drilling towers with nine local and international companies, as the company was able to get price deduction of about 11 million dinars for the lease on drills in the final negotiation held by the company recently with the contractors, reports Al-Anba daily.

The daily quoting reliable sources said the signing of contracts with nine companies will take place within about a month from now. They stated the contract, which extends for about 5 years, comes within the company’s efforts to expand drilling, exploration and development operations under the 2040 strategy, with the implementation of an intensive program to develop newly explored oil reservoirs.

They said two local companies won the supply operations, in addition to 7 international companies. The two companies include Burgan Drilling Wells and Kuwait Drilling Company (KDC), as well as foreign companies represented by Chinese Sinopec, Jerry, Alef and Sino Sarwa Al-Masria and Schlumberger.

They indicated the company plans to drill about 400 new wells for crude oil and non-associated gas in all the fields of the company, with the arrival of new towers, bringing the total working towers in Kuwait to about 150 covering 80 well drilling and 70 well repairs, indicating well repair operations exceed 1,100 annually

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KOC set to ink deal for drilling towers supply

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