KOC signs $1.3 billion contracts to buy over 86 drilling rigs.

Kuwait Oil Company (KOC) recently signed contracts to buy over 86 drilling rigs, which is the largest order in KOC’s history with a total value of $1.3 billion, company CEO Jamal Jaafar said. He also noted that 30 rigs had already been delivered by the contracted Chinese, American and Italian companies.

The rigs were purchased instead of being rented due to the prohibitive daily rental price of $12,000-$14,000 per rig, Jaafar explained.
Separately, the Clean Fuel Project Manager at the Kuwait National Petroleum Company (KNPC) Shuja Al-Ajmi stressed eight units had been successfully upgraded and operated and that 2,059 connection operations were made in the project in record time.

Via : Kuwait Times

No.of Reads (248)


A light Year Ahead News Source.