Winning firm will conduct 3D seismic survey in Western Kuwait
Chinas BGP is the low bidder on a contract to conduct a 3D seismic survey in western Kuwait, according to a document published by state oil company Kuwait Petroleum Corporation (KPC).
BGP, a geophysical services company whose shares are mainly held by Chinese state-owned oil company China National Petroleum Corporation (CNPC), submitted a bid of KD35.9m ($118.9m).
The only other bidder was Westerngeco International, a London-based geophysical services company owned by the US Schlumberger. Westerngeco International submitted a bid of KD36.2m.
A second alternative bid by BGP was rejected by KPC.
The deadline for submitting bids for the deal was 29 July.
In 2014, BGP won the first ever 3D seismic survey contract awarded by state-owned upstream oil operator Kuwait Oil Company (KOC).
The project covered 2,500 square kilometres including most of the inhabited areas of Kuwait City and Kuwait Bay.
The 3D Seismic Survey Kuwait Bay Acquisition contract was signed on December 1, 2014, and it was the first ever 3D Seismic survey acquisition awarded by Kuwait Oil Company (KOC).
The increased survey activity in Kuwait is in line with KOCs stated objective of searching for gas and light oil in the countrys Jurassic and Permian plays, as well as exploring unconventional reservoirs.
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.