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Kerui Petroleum Wins $100 mn Drilling Rigs Contract in Kuwait

Chinese oil services and equipment company Kerui Petroleum said it won US$100 million worth of contract for two ultra-deep well drilling rigs for with ExxonMobil’s unit Kuwait AREC.

 

The 300-horsepower intelligent drilling rigs will be used by AREC in the Kuwait Oil Company oilfield to help increase Kuwait oil production and achieve the national company's target of 4 million barrels for 2020, Kerui said in a statement.

 

Kerui said the drilling rig is developed especially with Middle East specifications, and integrates with automation equipment to improve efficiency of drilling operations.

 

The contract follows another ultra-deep well drilling rig contract earlier this year, valued at $50 million from Kuwait National Drilling Company.

 

In 2015, Kerui Petroleum successfully delivered two sets of 1500HP fast-moving rigs to Exxon Drilling Company under the Kuwaiti royal family’s sponsorship.

 

Project director, Zhilong Zhao, said: "Kerui Petroleum has always provided its customers with high-quality technology to reduce costs, and we hope that as our technology has done, more Chinese companies will enter the global market."

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