Kuwait Oil Company (KOC) has awarded seven-year strategic partnership contracts under its Ahmadi Innovation Valley (AIV) initiative to four global oilfield service companies, marking the next phase of the company's technology and innovation programme.

The contracts have been awarded to SLB, Baker Hughes, Halliburton and National Energy Services Reunited (NESR).

The awards follow memoranda of understanding (MoUs) signed by KOC in February 2025 with five international oilfield service companies—SLB, Baker Hughes, Weatherford, Halliburton and NESR—to support the development of the Ahmadi Innovation Valley initiative.

Last week, SLB announced that it has been awarded the first contract under the AIV initiative. The scope of the seven-year contract includes working with KOC to evaluate, test and deploy advanced technologies across a range of operational and strategic priorities, and establishing a dedicated facility, with construction expected to begin this year and opening planned for 2028.

Last month, a report by Zawya Projects quoting local media had said SLB’s unit Schlumberger Oilfield Eastern Limited was awarded a contract worth of 118 million Kuwaiti dinars ($380 million) for the AIV project.

On Sunday, local Arabic-language newspaper Al Rai had reported that the Higher Procurement Committee of Kuwait Petroleum Corporation (KPC) approved a recommendation to award and correct a calculation error related to Groups A and C of the AIV project. Under the decision, Group A was awarded to a contractor for KWD 111.99 million (approximately $360.76 million), while Group C was awarded to another contractor for KWD 80.518 million (approximately $259 million).

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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