Pressure Drilling Contracts in Kuwait and Qatar
Weatherford International has secured two major Middle East contracts valued at approximately $500 million. In Kuwait, they will provide Managed Pressure Drilling (Oil and Gas) services, utilizing their advanced Victus Intelligent MPD system, to Kuwait Oil Company (KOC) in a $200 million deal initiated in Q3 2023 and expected to be completed by Q4 2025.
In Qatar, They signed a five-year contract (with a five-year extension option) worth $300 million to supply fishing and drilling tools to a National Oil Company, commencing in Q1 2024 and concluding in Q1 2029. These contracts will create over 500 job opportunities directly and indirectly in the region. The projects will enhance operational efficiency, safety, and continuity in Kuwait and Qatar’s oil and gas operations, reinforcing Weatherford’s position as a trusted partner.
