China National Logging Corporation (CNLC) has been awarded a five-year oilfield services contract by Kuwaiti state-owned upstream company KOC, Upstream Online reported on Tuesday.
With a reported value of approximately USD 163.4 million, it represents the largest standalone well-logging contract secured by a Chinese company overseas, according to statements to Upstream by a company official.
The scope of the contract includes openhole and cased-hole logging, perforation services, plug setting, pipe recovery, drill stem testing and borehole seismic operations. CNLC will also manage data acquisition, processing and interpretation to support reservoir characterisation and productivity enhancement at KOC assets.
Work will take place at KOC-designated sites using allocated rigs, with CNLC required to be fully mobilised within 90 days of formal notification to begin operations. The contract includes an optional one-year extension.
China National Logging Corporation is a subsidiary of China National Petroleum Corporation (CNPC) that provides well-logging, testing and perforation services globally. CNPC offers a range of upstream services, including drilling, logging, reservoir evaluation and project management, and operates in numerous markets across the Middle East, Africa, Latin America and Asia.
Source: theenergyyear.com