SLB Secures $1.5 Billion Contract for Development of Kuwait's Mutriba Field

SLB Awarded Major Contract in Kuwait

On Tuesday, oilfield services provider SLB announced that it has been awarded a $1.5 billion contract by Kuwait Oil Company for the development of the Mutriba field in Kuwait. The agreement spans a period of five years.

Scope of Work at Mutriba Field

Under the contract, SLB will be responsible for design, development and production management at the Mutriba field. The company stated that the project will involve work on deeper high-pressure, high-temperature reservoirs that have sour conditions.

SLB indicated that the new agreement builds on its existing subsurface knowledge of the Mutriba field. The company will apply this prior knowledge to guide the design and development activities covered under the contract term.

Contract Duration and Value

The contract between SLB and Kuwait Oil Company is valued at $1.5 billion and will run for five years. SLB described it as a field development contract that encompasses multiple stages of work, including planning, technical design, and ongoing management of production operations at the site.

Related Regional Activity

SLB also noted that in December it received a separate five-year contract to supply services to Saudi Aramco. That contract focuses on services for Saudi Aramco's unconventional gas fields. Both arrangements extend SLB's involvement in energy development projects across the Middle East.

The announcement regarding the Mutriba field contract did not specify further operational milestones or timelines beyond the five-year term and the outlined responsibilities of design, development and production management.