Kuwait Oil Company (KOC) has awarded Adnoc Drilling a $313.6mn contract to supply two jack-up rigs for the second phase of the emirate’s offshore exploration program. In a 9 November statement, Adnoc Drilling said it expects to utilize an owned rig and bareboat another for the four-year contract, with operations expected to begin in 4Q 2027.
Kuwait launched the first phase of its offshore drilling campaign in 2022. The first three wells all delivered successful results with combined recoverable reserves of 4.5bn boe (3.02bn barrels oil, 6.7tcf gas). For the second phase, KOC plans to drill eight high-pressure, high-temperature (HPHT) wells—two more than in the first phase. Kuwait hopes to unlock 150,000 b/d and 150mn cfd from its offshore as part of its target to reach 4mn b/d capacity by 2035 (MEES, 6 February). (CONTINUED - 132 WORDS)