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Oilfield Services Firms Bid for Khafji Drilling Work

Source: Reuters 3/15/2010, Location: Middle East

Major oilfield service companies have submitted bids for drilling and other work at the Khafji field that Saudi Arabia shares with Kuwait, industry sources said.

Halliburton Co, Baker Hughes Inc, Weatherford International Ltd and Schlumberger bid for the deal, which has a value estimated at around $300 million, he added.

The contract, which was held by Schlumberger Ltd since 2005, expired last year but had been renewed by one year to May this year, one source familiar with the matter said.

Under the new three-years contract, the winning company would provide operational services for 151 wells including cementing, stimulation, directional drilling, and workover, the source said.

Bidding started on Jan. 5 and closed on March 15, two sources said.

Khafji, which is in the Neutral Zone between the two OPEC members, has oil production capacity of around 550,000 bpd. Both countries plan to boost capacity in the zone to 700,000-900,000 bpd by 2030.

The al-Khafji Joint Operations Co (KJO) is split between Aramco Gulf Operations, a subsidiary of Saudi Aramco [SDABO.UL], and state-owned Kuwait Gulf Oil Co (KGOC).

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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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