New contracts and agreements announced at KOGS 2026

At the 5th Kuwait Oil & Gas Show and Conference (KOGS), taking place from 3-5 February in Kuwait, TotalEnergies and Kuwait Oil Company (KOC) signed an agreement to strengthen cooperation, exchange expertise and conduct technical studies, while KOC and SLB signed an integrated development contract

The MoU signed by TotalEnergies and KOC includes studies related to new exploration opportunities in the country, for which TotalEnergies will mobilise its technical expertise.

“We are pleased to strengthen our cooperation with Kuwait Oil Company through this MoU, which reflects our shared ambition to contribute to Kuwait's objectives in developing its resources. The studies to be carried out will help inform future projects, while further deepening our long-term relationship with Kuwait,” said Patrick Pouyanné, chairman and CEO of TotalEnergies.

Kuwait’s Prime Minister, Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, announced at KOGS that Kuwait Petroleum Corporation will invite international oil companies to help Kuwait Oil Company (KOC) develop recently discovered offshore oil and gas fields. He added that KPC is also in discussions with international financial institutions to create a lease and lease-back model of Kuwait’s domestic crude oil pipeline network.

Speaking to Oil Review Middle East last year, Ahmad Jaber Al-Eidan, CEO of Kuwait Oil Company said that KOC is working towards a production capacity of 3.650mn bopd by 2035, supporting Kuwait’s overall target of 4mn bopd. Its strategy focuses on optimising production from mature assets, accelerating the development of high-potential reservoirs, and unlocking new growth frontiers, both onshore and offshore, to ensure sustainable and resilient capacity growth.

Kuwait has made several promising offshore discoveries recently as a result of its offshore campaign, including the Nokhatha field discovery in 2024, which is estimated at about 2.1bn barrels of oil and 5.1 trillion cubic feet of gas, and the Julaiah field early last year, holding 800 million barrels of crude and 600 billion cubic feet of associated gas, followed by the Jazza field, estimated to hold around 1 trillion cubic feet of gas and over 120 million barrels of condensates.

Kuwait is seeking the latest technologies to advance its oil and gas production. At KOGS2026, Olivier Le Peuch, CEO of SLB and Ahmad Jaber Al-Eidan, CEO of Kuwait Oil Company, signed a US$1.5bn, five-year integrated development contract, which will support the next stage of the Mutriba field development, including design, development and production management.

The work builds on SLB’s subsurface understanding of the Mutriba field to support development planning and execution across deeper, technically demanding reservoir conditions. The contract covers development of high-pressure, high-temperature reservoirs with sour conditions, reflecting an expanded scope and responsibility for SLB as work on the Mutriba field progresses.

The project is designed to support faster development of technically challenging and remote resources, while prioritising capital efficiency and environmental considerations. It reflects a broader shift toward end-to-end delivery models that reduce execution risk as fields move into more complex phases of development.