$6.1B Opportunity Overview
The Kuwait Oil Company plans to invest more than $6.1 billion in exploration over the next five years, and increase production to 4 million barrels per day by 2040. The State-owned company plans to drill 700 wells per year over the coming period.
Our customer is looking to partner with a drilling company/contractor who is interested to work in Kuwait and has the ability to supply a minimum of 5 drilling rigs of 1,000 and 3,000 horsepower and crews to operate the drilling rigs for a minimum of 5 years.
Interested companies must have at least 15 years of experience in carrying out onshore or/and offshore drilling activities for new oil exportation and workover.
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About Kuwait
Kuwait is a major oil supplier and a member of the OPEC consortium. Oil accounts for nearly half of Kuwait’s GDP, around 95% of exports, and approximately 90% of government export revenue. Kuwait holds approximately 7% of global oil reserves and has a current production capacity of about 3.15 million barrels per day.