OPEC member Kuwait intends to issue tenders for the purchase of 24 rigs to support plans to expand its oil and gas output capacity, a local newspaper said on Monday.

The government-owned Kuwait Oil Company (KOC), which manages the upstream sector in the Gulf country, will issue the tenders this week, the Arabic language daily Alanba said, citing a "responsible" oil source.

"The source said KOC is planning to use these rigs in its ongoing projects to boost onshore oil and gas production," the report said.

KOC announced it would order 24 "HP750", "HP550" and "HP1000" rigs in September 2019 but the tender was postponed for internal reasons, the report added.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#Kuwait #KuwaitOilCompany(KOC) #Oilandgas

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