KOC awards seven tenders worth 224 mln dinars to boost oil exploration, infrastructure
Kuwait Oil Company (KOC) has awarded seven tenders with a total value of 224.07 million dinars to enhance its oil exploration system and upgrade network infrastructure, the company announced.
The largest portion of the contracts — 208.04 million dinars — covers oil well logging and blasting services.
The contract was awarded to four groups of international contractors from Italy, the United States, and China. These companies will carry out advanced evaluation of reservoir properties in oil and gas wells, use specialized equipment to analyze rock and fluid composition, and apply blasting techniques to establish flow paths for crude oil extraction.
In addition, KOC awarded two tenders worth approximately 4 million dinars each to build flow lines for production wells in South Kuwait and East Kuwait, alongside tenders for Oracle software support services and the supply of low-voltage electrical cables reinforced with protective steel wires.
As part of its drilling development strategy, the company also launched a turnkey project with a Chinese partner to provide five development drilling rigs.
Under the turnkey model, contractors are responsible for the design, engineering, procurement, construction, and operation of projects on a fixed-price, ready-for-use basis.
KOC emphasized that these projects are aligned with its efforts to improve drilling efficiency, rationalize spending, and modernize capital cost estimation. The company aims to save 430 million dinars over the next five years through measures such as optimizing well design, drilling pipes, and related equipment.
During the last fiscal year alone, KOC reported savings of 208 million dinars by refining specifications for drilling and maintenance rigs. These steps, the company noted, have strengthened operational efficiency, competitiveness, and the accuracy of cost estimates for new wells.
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