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 […]
Energy technology company Baker Hughes has launched a global Mature Assets Solutions (MAS) hub network aimed at helping oil and gas operators increase production efficiency, improve recovery and extend the life of existing fields. Source: .oedigital.com The network includes customer collaboration centers in the United States, Brazil, Norway, Angola, major energy hubs in the Middle […]
Kuwait is pumping oil at about 75% of the level seen before the Iran war as more tankers take the risk of navigating the Strait of Hormuz.
Ahmad M. Al-Ajlan, CEO, and Ivan Chikunov, General Manager – Services & Tendering of Action Energy Company (AEC), talk to The Energy Year about expanding the company’s rig fleet and oilfield services capabilities, the role of digitalisation in improving operational performance and its plans for offshore and regional growth.
Kuwait and Qatar – two of the Persian Gulf’s smaller oil producers – are sending more crude through the Strait of Hormuz, adding to an increase in shipments that are keeping global prices in check.
Petroleum Minister Ali Pervaiz Malik on Sunday said plans were underway to launch a scheme with Saudi Arabia, Kuwait and Qatar for oil storage to strengthen energy security.
Kuwait produced 1.971 million barrels of crude oil daily in July, Reuters has reported, citing unnamed sources. That was up from 1.65 million barrels daily in June, the report noted, which in turn was up from just 580,000 barrels daily in May.
Halliburton has been awarded a multi-year agreement by Kuwait Oil Company (KOC) to support development of the Ahmadi Innovation Valley (AIV), a research and development center designed to accelerate technology innovation across Kuwait’s upstream oil and gas sector.
Seven OPEC+ members have agreed to increase collective oil production by 188,000 bpd in August, continuing the gradual rollback of voluntary production cuts while reaffirming their commitment to maintaining market stability.
Kuwait will consider increasing oil storage abroad to boost its ability to supply global markets after the war in the Persian Gulf blocked flows through the Strait of Hormuz, according to the head of the state energy company’s marketing arm.