PROJECTS: Nine firms win oil drilling tower supply in Kuwait

They are worth $759mln

  
Oil drilling rig operation on the oil platform in oil and gas industry. Industrial concept. Image used for illustrative purpose.

Oil drilling rig operation on the oil platform in oil and gas industry. Industrial concept. Image used for illustrative purpose.

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OPEC member Kuwait has awarded contracts to nine local and foreign companies with a combined value of around 230 million Kuwaiti dinars ($759 million) for the supply and installation of 31 oil drilling towers, a local newspaper reported on Sunday.

The nine firms were among several bidders for the tender issued by the state-owned Kuwait Oil Company (KOC) within an ongoing programme to expand its hydrocarbon industry, the Arabic language daily Alanba said.

It quoted "responsible" oil sources as saying those awarded the deals comprise the two local firms Burgan Drilling and Kuwait Drilling Company as well as seven foreign companies including Schlumberger of the US and China Petroleum and Chemical Corp (Sinopec).

The report did not provide contract details but said KOC is planning to drill 400 new oil and gas wells and that the new rigs would boost its total drilling towers to 150, including 80 drilling towers and 70 repair and maintenance towers.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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