Kuwait Oil joins global majors to set up top-class research centre
KUWAIT CITY, 14 hours, 47 minutes ago
Kuwait Oil Company has signed agreements with leading global energy majors Baker Hughes, SLP Oilfield Services, Weatherford International, Halliburton Company and the National Energy Services Reunited Corporation (NESR) to develop Al Ahmadi innovation valley, a leading initiative in the field of digital transformation.
As per the deal, each of the five corporations will set up a world-class research center at Al Ahmadi innovation valley to offer solutions to KOC in the areas of exploration for, and production of, oil and gas.
"Al Ahmadi innovation valley is designed to be one of the national assets aiming to push the energy sector forward," remarked its CEO Ahmad Jaber Al Eidan after signing the deals with the global energy majors.
Baker Hughes was represented at the signing ceremony by its Executive Vice President of Oilfield Services and Equipment Amerino Gatti, SLP Oilfield Services by Managing Director Kareem Al Sayed, Halliburton Company by Board Chairman and CEO Jeff Miller, Weatherford by Country Director Ashutosh Panchal and NESR by Chairman and CEO Sherif Foda.
On the deal with Baker Huges, Al Eidan said the two will work to optimize production through cutting edge artificial lift, chemicals and digital technology, solve challenges on KOC’s technology roadmap, develop Kuwait’s national research capabilities and enhance local expertise and Promote economic growth and employment in the country.
Working with global partners, KOC is building an integrated system that could help achieve the company's targets for technological excellence and sustainable energy, stated the top official.
It will be a big stride towards strengthening Kuwait's status as a regional poser in the fields of energy and digital transformation, he added.-TradeArabia News Service
