Company plans to maintain reservoir pressure at key fields
Kuwait Oil Company (KOC) has awarded two deals worth a total of KD59m ($206m) as part of its plans to maintain reservoir pressure at the country’s key oil fields.
The national oil company awarded the deals, worth KD29.5m each, to the US’ Halliburton and the local National Petroleum Services Company.
The two contracts cover the supply of coiled tubing, pumps, nitrogen-lifting facilities and associated services.
The two companies will install the equipment at KOC facilities at the fields. The facilities will pump nitrogen into the oil wells to maintain reservoir pressure and therefore production.
Kuwait plans to pump 4 million barrels a day (b/d) of oil by 2020. It currently pumps about 3 million b/d. To increase production, it must develop new fields and maintain current levels of production at its oldest reservoirs. Some have been in service for more than 40 years.
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.