Italian EPC and drilling firm Saipem has won two new onshore drilling contracts in Kuwait
The contracts were awarded by Kuwait Oil Company, the national oil company of Kuwait, as part of its ambitious plans to develop the country’s oil resources. The awards represent the company’s first foray into the Kuwaiti onshore drilling market. Both the contracts have a duration of five years and an option to extend for another 12 months, and include the supply of two 3,000 HP deep-drilling rigs for operations in the country.
Entering the onshore market in Kuwait will enable the company “to further consolidate its presence in the strategic Middle Eastern market and leverage its significant experience of onshore drilling operations in desert environments,” said Saipem in a statement.
These contracts follow the recent award notification from the Kuwait National Petroleum Corporation for two packages of the 650,000 bpd Al-Zour New Refinery Project. Package number 4 at Al-Zour includes EPC, pre-commissioning and commissioning work for tanks related road works, buildings, pipe racks, pipelines, water systems and control systems. Package 5 consists of offshore and marine export facilities at the facility which lies some 90 km south of Kuwait City. Both packages are slated to be completed within 2019.
Along with another two contracts that the company won in Peru and Colombia in South America, the total value of these contracts is approximately US$250mn.
