KOC Signs Two Contracts for Supplying 13 Drilling Rigs

Kuwait Oil Company has signed two major contracts to supply and operate 13 drilling rigs.

The first was with the Burgan Well Drilling, Trading & Maintenance gand the second with the Chinese company SINOPEC.

C&MD Sami Al-Rushaid signed the contracts on behalf of KOC, while Ahmad Al-Hamad, Burgan’s chairman, represented Burgan Co, and Su Shulin, General Manager, signed for SIOPEC.

Al-Rushaid described the two contracts as “among the biggest in the Company’s history,” saying that they “are vital for our 2020 strategy in reaching the production capacity of four million barrels per day.”

On his part, Al-Hamad said that his company realizes the importance of the drilling rigs and will thus supply them as quickly as possible. “At the same time, we shall adhere to all KOC’s HSE instructions and procedures,” he added.

Shulin thanked KOC for providing the opportunity to SINOPEC to be involved in this important contract. “The relation with KOC is very important to us, and we shall carry out our part according to the highest standards,” he asserted.

According to the first contract, worth KD 122.6 million, five drilling rigs ( two of 550 HP, two of 1,000 HP and one of 1,500 HP) will be supplied. The value of the contract with SINPEC, meanwhile, is KD 117 million and includes the supply of a further five drilling rigs (two of 1,000 HP each and three of 1,000 HP each).