Kuwait Oil Company (KOC) announced in a statement that within the framework of further enhancing its oil production, KOC signed nine contracts with five local companies to provide drilling rigs for heavy oil production operations in NK fields.
The signing ceremony was held in the Company’s Main Building in Ahmadi, in the presence of CEO Ahmad Jaber Al-Eidan, a number of DCEOs, Group Managers, and concerned TLs, in addition to officials from the five local companies with which the contracts were signed.
The five companies are the Operational Energy Company, Kuwait Well Drilling Company, Emkan Company, the Zenith Group for Drilling & Maintenance of Oil Wells, and the Refineries Engineering Company. They won the nine contracts aimed at providing nine surface drilling rigs (550 HP) for a period of up to five years, at competitive prices and within the scope of allocated budgets.
These contracts are of a special nature, as for the first time in the Company, drilling rig contracts are signed with local companies with the support of international companies qualified in drilling and well workover operations, with the aim of creating and establishing local companies in this field.
KOC also sought to encourage private sector companies to work with it, aiming to acquire and localize expertise in the local market, and contribute to creating a competitive environment with international companies to obtain the optimum prices. In addition, it provides job opportunities for young Kuwaitis in the oil sector, and helps them gain experience from international companies, as the contracts provide around 125 diverse job opportunities for Kuwaitis.
