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Current rigs in Kuwait include 86 for drilling and 86 for maintenance and enhancement. The planned increase includes 114 drilling rigs and 98 maintenance rigs by FY 2025/2026.
Kuwait Oil Company (KOC) is gearing up for a substantial increase in its drilling operations, with plans to elevate the number of drilling rigs to 212 by the fiscal year 2025-2026, up from the current 172.
According to Al-Anba newspaper, MEED reports that this expansion aims to bolster oil and gas production across Kuwait.
According to MEED, Kuwait currently operates 86 drilling rigs alongside 86 rigs dedicated to maintenance, upgrades, and deepening wells for optimal performance.
These include 30 deep drilling rigs, 54 development rigs, and two heavy oil rigs for drilling activities. The maintenance rigs encompass 10 deep drilling rigs and 76 rigs tailored for development.
MEED further reports that KOC’s strategy entails having 114 drilling rigs and 98 rigs for maintenance and upgrades by 2025-2026.
The drilling fleet will comprise 47 deep rigs, 57 development rigs, and 10 heavy oil rigs. Additionally, the workover rigs will consist of 9 deep-water rigs, 85 development rigs, and 4 heavy oil rigs.
This expansion aligns with KOC’s ambitious five-year plan, projecting a 38% increase in active drilling rigs by fiscal year 2028-2029, peaking at 119 rigs.
Meanwhile, the combined number of workover and development rigs is anticipated to reach 98 by 2025-2026 before tapering to 92 by 2028-2029.
Commenting on the company’s plans, MEED noted that KOC’s rig strategy predates the recent offshore discovery at the Nokhatha field. Kuwait Petroleum Corporation had unearthed significant reserves of light oil and gas in the field on July 14.
The offshore field, located east of Failaka Island, is estimated to hold approximately 3.2 billion barrels of oil equivalent, a significant boost to the country’s hydrocarbon resources.
