SLB, USA announced the awarding of contracts across Middle East Countries as part of its Third-Quarter 2023 Results.
Notable technology introductions and deployment in the quarter include the following:
In the United Arab Emirates, the introduction of the PeriScope Edge™ multilayer mapping-while-drilling service in an offshore field has enabled mapping the top of a target that could not previously be mapped with confidence. The PeriScope Edge technology improved the depth of investigation for mapping reservoir boundaries and target intervals by 80%. This supported earlier and more efficient decision making, which resulted in a smoother wellbore with less undulation. The enhanced deep resistivity measurements and a high-resolution inversion improved geosteering and reservoir understanding to develop the offshore field.
In southeastern Kuwait, the Kuwait Oil Company (KOC) increased production by 900 barrels per day in the Mauddud carbonate, after acquiring 3D far field sonic data with the SLB ThruBit™ through-the-bit logging service. Using the ThruBit service, KOC was able to understand fracture geometry in a highly deviated well, to quantify the target, and to detect fractures up to 95 feet from the borehole in a complex well that lacked advanced logs. The critical well data and a robust mechanical earth model enabled KOC to optimize the stimulation job to increase production.
In Kuwait, Kuwait Oil Company (KOC) has implemented a successful proof-of-value project with SLB by deploying the Agora™ edge AI and IoT solutions on selected natural gas wells in the Greater Burgan, the largest sandstone field complex in the world. With the Agora technology, KOC can seamlessly integrate engineering workflows, tailored precisely to KOC unique business and technical requirements, eradicating the need for multiple platforms, streamlining operations, and maximizing efficiency. KOC will also be able to optimize production-related processes, reduce costs, and drive significant improvements in the pilot project, which is considered strategic for KOC digital transformation adoption.
In Iraq, Kuwait Energy Basra Limited (KEBL) awarded SLB a contract for a real-time drilling and production data and workflows integration platform. The contract scope covers the digitalization of drilling and production workflows and includes Agora technology at the well/rig site and a Dataiku-powered AI platform at the center of the system. The scope covers all current and future producing wells and rig fleet in KEBL’s Block 9 expansion plans. The project is built as a fit-for-purpose solution that will enable KEBL to monitor and collaborate in real time and integrate diverse data into one platform, allowing data analytics to enable better decision making and intelligent surveillance.
In Egypt, Petrojet awarded SLB a contract for detailed engineering, procurement, commissioning, and startup of the Meleiha gas treatment plant, with further opportunities for operations and maintenance in the future. The project is located in the Western Desert and is owned by Agiba Petroleum Company, an Eni/EGPC joint venture. Petrojet is the main engineering, procurement, construction, and commissioning contractor. The project will adopt a zero-flaring approach, in line with the SLB decarbonization strategy.
Revenue in the Middle East & Asia of $2.84 billion increased 8% sequentially driven by strong growth in Saudi Arabia, the United Arab Emirates, Indonesia, China, Malaysia, Kuwait, and Oman. This was a result of higher drilling, intervention, stimulation, and evaluation activity, both on land and offshore. Year on year, revenue increased 22%, driven by significant growth across Saudi Arabia, the United Arab Emirates, Kuwait, and Egypt, statement mentioned.