The contracts were won by companies in the US, China and Saudi Arabia
State-owned upstream operator Kuwait Oil Company (KOC) has awarded contracts worth KD679.4m ($2.2bn) for the supply, installation, surveillance and maintenance of electrical submersible pumping (ESP) systems.
The contracts were awarded to the following companies:
- Alkhorayef Petroleum Company (Saudi Arabia) – KD233.99m
- Halliburton (US) – KD201.00m
- SLB (US) – KD169.96m
- Tianjin Rongheng Group (China) – KD74.95m
According to KOC, the bids for the contracts were received in July.
In September, New York-listed SLB, formerly known as Schlumberger, gained access to new ESP technologies through its acquisition of fellow American firm ChampionX.
ESP systems are widely used in the oil and gas industry to boost production from reservoirs.
The systems use an electric motor to power a multi-stage centrifugal pump submerged in an oil well to lift fluids to the surface.
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