The Kuwait Oil Company is preparing to launch a new stage in its history, as it will finally start offshore drilling, 3 years after signing a contract with Halliburton International.
The contract is worth 181 million dinars that comprises offshore drilling rig inside the Kuwaiti territorial waters in its specified location within weeks, reports a local Arabic daily.
Acting CEO of the Kuwait Oil Company Khaled Al-Otaibi told the daily the offshore drilling will start during this month, explaining that the reason for delaying the start of marine operations is due to the delay in manufacturing the rig due to the Corona pandemic, and that after the end of its manufacture, it arrived in Dubai and some modifications were needed.
The sources said that the duration of the offshore drilling project is 3 years from the start of work, while the expected reserves according to seismic surveys are promising, as the drilling sites were determined according to the strongest possibilities.
The sources added that the expected production is about 100,000 barrels per day, which will mark Kuwait’s entry into a new era of oil and gas production, stressing that “this project is a real challenge for the KOC.
The sources indicated the KOC is awaiting the arrival of the second rig to Kuwait, 6 months after the start of the work of the first rig, according to the contract.
The sources indicated the contract provides for drilling 6 exploration wells as a first stage through two marine drilling towers with a capacity of (4500 HP), which includes drilling support services, logistics services for port management and boats of various categories to transport personnel, equipment and materials. The duration of the project’s completion in its first phase is 3 years, with a preparation period of one year for the first drilling rig, and then a year and a half for the other tower.
The sources confirmed that the most important steps that were prepared to launch the offshore drilling project were coordination with a number of governmental and private agencies in Kuwait.