SLB wins $1.5 billion contract for Kuwait's Mutriba field development
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FILE PHOTO: The entrance to oilfield service provider SLB's office in Houston, Texas, showing the former Schlumberger's new name and logo, is seen in this handout image taken June 2023. Courtesy of SLB/Handout via REUTERS/File Photo
Feb 3 (Reuters) - Oilfield services provider SLB said on Tuesday it has been awarded a $1.5 billion contract over five years by Kuwait Oil Company for the development of the Mutriba field in the country.
Oil producers in the Middle East, Africa and Asia are seeking to boost inventories, which is driving exploration and drilling activity in the region, and with it demand for oilfield services. In December, SLB received a five-year contract to supply Saudi Aramco services for the energy giant's unconventional gas fields.
Under the contract, SLB will handle design, development and production management at the field.
SLB said the contract builds on its existing subsurface knowledge of the Mutriba field and will cover the development of deeper high-pressure, high temperature reservoirs with sour conditions.
(Reporting by Sumit Saha and Tanay Dhumal in Bengaluru; Editing by Sahal Muhammed and Leroy Leo)
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