Halliburton awarded contract by Kuwait Oil Company
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Halliburton awarded contract by Kuwait Oil Company

By MEED    18 Jun 2021 (Last Updated June 18th, 2021 10:15)

Contract is for the implementation of digital transformation solutions.

Halliburton awarded contract by Kuwait Oil Company
Credit: MEED.

US oil field services company Halliburton has been awarded a contract by state-owned upstream operator Kuwait Oil Company (KOC) to implement digital transformation solutions to optimise operational efficiency and increase production.

In a statement, Halliburton said: “The scope applies to all Kuwait fields, including West Kuwait, South and East Kuwait and Heavy Oil, complementing a recently awarded contract for similar services in North Kuwait.

“Halliburton will collaborate with KOC to accelerate its data-to-decisions cycle by implementing automated work processes and digital twins across KOC’s major assets.

“The solutions will leverage DecisionSpace 365, Halliburton’s cloud-based subscription service for [exploration and production] applications, to automate work processes to accurately plan, forecast and optimise production throughout the KOC portfolio.”

Halliburton has yet to announce the value of the contract.

Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions & Consulting, said: “This award signifies our strong relationship with KOC as we collaborate and innovate across its company-wide digital transformation initiatives.

“This contract further demonstrates Halliburton’s strategic priority to accelerate the adoption of our digital services.

“Our software and consulting services will support KOC to optimise its assets, reduce production costs and increase recovery.”

Kuwait presence

Halliburton already has a significant presence in Kuwait’s oil and gas sector.

Over recent years, it has won several contracts from KOC, including for offshore drilling work.

In January, a Kuwaiti official said that a Halliburton offshore drilling project in Kuwait worth KD181.4m ($597m) had been delayed due to the Covid-19 pandemic.

Muhammad al-Ajmi, director of exploration at KOC, said that the project had been delayed by six months, and that the delay could be increased.

The contract was for integrated offshore drilling services for six high-pressure, high-temperature exploration wells on two jack-up rigs in the Gulf.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.

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