US oil company signs $70m contract
US oil field services company Weatherford has won a KD20m ($70m) contract to provide oil well testing services in Kuwait.
Weatherford signed the contract with state oil and gas operator Kuwait Oil Company (KOC) on 27 July.
The four-year contract covers the provision of equipment for and testing of wells at 5,000, 10,000, 15,000, and 20,000 pounds per square inch of pressure, at up to 20,000 barrels a day (b/d).
The deal is one of a series of consultancy and oil field testing deals awarded by KOC in 2009, as the company develops the country’s reservoirs. The firm has yet to award a major deal to boost production, however, as political wrangling stalls progress in the oil and gas sector.