Halliburton has signed a 3-year deal to drill six exploration wells in the Arabian Gulf.
The Texas-based company announced it signed an Integrated Offshore Drilling Services contract with Kuwait Oil company. the agreement means the two will drill six high-pressure high-temperature exploration wells on two jack-up rigs.
Halliburton will provide and manage the drilling, fluids, wireline and perforating, well testing, coring, cementing, coiled turbing and all offshore logistical services. The company will also provide the offshore rigs and supply vessels for the project.
“As part of KOC’s plan to increase production capacity by charting new territory in Kuwait’s offshore reserves, our Company is pleased to announce that we will be working on this ambitious project alongside one of our closest business partners, Halliburton, who will be assisting us through the provision of their many years of experience in the field of offshore exploration and production,” said KOC CEO Emad Mahmoud Sultan.
“We are grateful for the opportunity to collaborate with KOC and implement our integrated services and innovative technologies to accelerate offshore development, reduce drilling and completions costs and increase recovery,” said Halliburton Eastern Hemisphere President Joe Rainey.
The contract includes a 3-year term with a 6-month extension option. Work will begin in mid-2020. The expected start date for the first rig is July 2020 and the second rig is January 2021.