ADNOC Drilling has received letters of award from Kuwait Oil Co. (KOC) for two high-specification offshore jackup rigs, with a combined maximum value of about $313.6 million (KWD 96.6 million). The awards, approved by Kuwait Petroleum Corp.’s Higher Procurement Committee, mark ADNOC Drilling’s entry into offshore Kuwait and its first offshore rig operations outside the […]
Kuwait Oil Company (KOC), a subsidiary of Kuwait Petroleum Corporation (KPC), has signed a $16 billion lease-and-leaseback agreement covering its domestic and export crude oil pipeline network with a consortium led by the Global investment firm, Blackstone, Infrastructure asset manager, Brookfield, and Private equity firm, KKR.
TotalEnergiesand Kuwait Oil Company have signed a memorandum of understanding to strengthen technical cooperation and advance studies related to potential exploration opportunities in Kuwait.
Kuwait has discovered a significant amount of oil and gas in the Al-Noukhitha offshore field, estimated at around 3.2 billion barrels of oil equivalent.
The discovery includes 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of natural gas.
Kuwait plans to develop plans for extracting resources from the field as soon as possible, aiming to increase its oil production capacity to 4 million barrels per day by 2035.