Major oilfield service companies have submitted bids for drilling and other work at the Khafji field that Saudi Arabia shares with Kuwait, industry sources said yesterday.
Halliburton, Baker Hughes, Weatherford International and Schlumberger bid for the deal, which has a value estimated at around $300 million, (Dh1.1 billion) he added.
The contract, which was held by Schlumberger since 2005, expired last year but had been renewed by one year to May this year, said one source familiar with the matter.
Under the new three-year contract, the winning company would provide operational services for 151 wells including cementing, stimulation, directional drilling and workover, the source said.
Bidding started on January 5 and closed on March 15, two sources said. Khafji, which is in the Neutral Zone between the two Organisation of Petroleum Exporting Countries members, has oil production capacity of around 550,000 barrels per day (bpd). Both countries plan to boost capacity in the zone to 700,000 bpd to 900,000 bpd by 2030. (Reuters)
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