Kuwait Oil Company (KOC), the main subsidiary of Kuwait Petroleum Corporation responsible for upstream hydrocarbon activities in Kuwait, disclosed that it drilled a total of 2,482 exploration and developmental oil wells in the past five years at a total cost of KD3.4 billion.
The company also revealed that the average cost of drilling a well is around KD1.5 million, and that KOC drilled 444 wells for crude oil and gas during the past financial year in all areas of the company’s operations through the use of 108 drilling rigs that included 65 drilling rigs and 43 drilling rig maintenance devices).
Exploring new wells and developing those with potential is an ongoing process at KOC and these plans are subject to periodic reviews in order to guarantee good performance of the reservoirs and ensure a steady flow of oil.
