SLB announced that the Kuwait Oil Company (KOC) has awarded it a $1.5 billion, 5-year contract for the Mutriba field in Kuwait that includes design, development, and production management.
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.
“This award reflects the strength of our long-standing partnership with Kuwait Oil Company and the trust built over decades of working together,” said Steve Gassen, executive vice president for geographies at SLB. “As development of the Mutriba field moves into its next stage, we are taking on end-to-end responsibility to support safe, reliable execution in complex reservoir conditions.”
Meanwhile, at the opening of the 2026 Kuwait Oil and Gas Show and Conference on 3 February, TotalEnergies and KOC signed a memorandum of understanding (MOU) to strengthen cooperation, exchange expertise, and conduct technical studies.
The MOU includes studies related to new exploration in the country, for which TotalEnergies said it will mobilize 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,” said Patrick Pouyanné, chairman and CEO of TotalEnergies. “The studies to be carried out will help inform future projects, while further deepening our long-term relationship with Kuwait.”
Both the SLB and TotalEnergies agreements point to a more international effort to extract Kuwait’s oil and gas. Speaking at the opening of the Kuwait Oil and Gas Show, Kuwaiti Prime Minister Sheikh Ahmad Abdullah al-Ahmad al-Sabah said the country is looking toward international companies to help, according to Reuters.
“Kuwait is a partner ready to engage with the world through cooperation, innovation, and long-term investment,” the prime minister said at the show.
This is not the first time Kuwait has looked internationally in its production efforts. In 2019, the Kuwait Oil Company signed a $597-million contract with Halliburton for six exploration wells in the Arabian Gulf.
