US services firm signed a contract to supply Kuwait Oil Company (KOC) with integrated offshore drilling services earlier this month. Specifically, Halliburton will drill “six high-pressure high-temperature (HPHT) exploration wells” using two jack up rigs. The first rig will begin operations in July 2020, and the second in January 2021. The contract is for three years with an option for a six month extension.
Offshore drilling has long been planned, but repeatedly delayed (MEES, 15 April 2016). Then-CEO Jamal Jaafar told MEES last year that seismic had been carried out some three years previous and that KOC has been considering implementing a new contract model for IOCs if exploration is successful (MEES, 20 April 2018). (CONTINUED - 109 WORDS)