KOC Awarded 129 Contracts Worth $7.1bn in H1, 2026

Analysis of six months of KOC signed-contracts reveals a KWD 466.6 million mega-award to Schlumberger, a widening value gap between Kuwaiti and international contractors, and a cluster of recurring rig-supply tenders that alone produced 30 separate contracts.

Kuwait Oil Company (KOC) signed 129 contracts worth a combined KWD 2.20 billion between January and June 2026, according to a new market intelligence report published by SaudiGulf Projects.

The report consolidates six months of KOC’s “Signed Contracts” into a single dataset, tracking every award made to 85 contractors across 16 countries – spanning drilling and workover services, cementing, well testing, major infrastructure construction, IT and cybersecurity, healthcare, insurance and specialized consultancy.

The report’s largest single finding is the extent to which H1 2026 spending was concentrated in a handful of outsized contracts. The KWD 466.6 million Mutriba Integrated Project Management (IPM) award to Schlumberger Oilfield Eastern Ltd, signed in February, was the single largest contract of the period – nearly a quarter of KOC’s entire six-month spend on its own.

Three separate flowline construction contracts, awarded across April and May to Heavy Engineering Industries & Shipbuilding, Combined Group Contracting and Mechanical Engineering and Contracting Company, together totalled more than KWD 349 million. Including the KWD 127.4 million Group Health Insurance Policy awarded to Gulf Insurance Group and the KWD 118.0 million Ahmadi Innovation Valley Research Center award signed in June, the five largest contracts of H1 2026 account for close to 45% of all value awarded across the six-month period.

Kuwaiti-registered contractors secured the majority of contracts by count — 67 of 129, or 52% — but only 43% of total value, according to the report. The pattern reflects a market in which local firms compete strongly for maintenance, manpower, logistics and mid-sized civil works contracts, while the largest and most technically complex packages continue to go to international oilfield-services majors.

The United Kingdom was the leading non-Kuwaiti source of contract value, at KWD 641.8 million, driven primarily by Schlumberger’s Mutriba IPM award along with multiple rock-drilling-bit and well-testing contracts. China followed at KWD 171.0 million across 12 contracts, concentrated in rig supply, cementing and OBM cutting-treatment services.