In the presence of KOC CEO Mr. Emad Mahmoud Sultan the Company signed the Offshore Drilling Services Contract for oil and gas exploration, within Kuwait’s territorial waters, with Halliburton, its long-time business partner, at the Ahmad Al-Jaber Oil & Gas Exhibition.

KOC DCEOs and a number of Group Managers and Team Leaders attended the signing ceremony. In his speech at the commencement of the ceremony, Mr. Sultan welcomed the attendees. He said that the Offshore Drilling Project is one of the most important projects to be implemented within KOC’s 2040 strategy. He also thanked all parties that contributed to the project, including individuals and entities. Halliburton’s Eastern Hemisphere President, Joe Rainey, said that Halliburton is grateful for the opportunity to collaborate with KOC and implement its integrated services to accelerate offshore development through the utilization of its innovative technologies.

During the press conference that followed, KOC CEO said that the project includes drilling six high-pressure high-temperature (HPHT) exploration wells, and aims at increasing KOC’s oil and gas producing capacity. He explained that Kuwait would enter a new era upon the completion of the project.

About KOC

Established in 1934, Kuwait Oil Company is responsible for the exploration, production and export of the State of Kuwait’s hydrocarbon resources. Throughout its history, KOC has strived to secure its position as a leader in the oil and gas industry by utilizing the latest forms of technology and industry best practices throughout its areas of operation. Recently, KOC has set its sights on Kuwait’s offshore reserves after a comprehensive 3D seismic survey of the entirety of Kuwait Bay indicated the potential for commercial quantities of production. As part of its commitment to remain a reliable supplier of energy to the world, KOC is currently making excellent progress in its effort to grow its reserves and increase production in a way that is both economically viable and environmentally sound.

About Halliburton

Founded in 1919, Halliburton (NYSE: HAL) celebrates its 100 years of service as one of the world's largest providers of products and services to the energy industry. With 60,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.