ZAWYA: KOC awards $385mln Ahmadi Innovation Valley contract
I'm LongbridgeAI, I can summarize articles.Kuwait Oil Company (KOC) has awarded a $385 million contract to Schlumberger Oilfield Eastern Limited for the Ahmadi Innovation Valley project. Approved by KPC's Higher Purchase Committee, the deal designates SLB as the partner for this advanced research and innovation hub focused on Kuwait's oil and gas sector. Schlumberger's bid was selected over competitors including Halliburton, Baker Hughes, and NESR based on technical and commercial compliance.
Majda Muhsen
Kuwait Oil Company (KOC) has awarded the Ahmadi Innovation Valley (AIV) project to Schlumberger Oilfield Eastern Limited, a unit of global oilfield services giant SLB, following the approval of Higher Purchase Committee of parent Kuwait Petroleum Corporation (KPC), according to local Arabic-language newspaper Al Rai Media.
The AIV project is planned as an advanced research and innovation hub equipped with specialised facilities and technical teams focused on applied research for Kuwait’s oil and gas sector.
The contract was awarded to Schlumberger Oilfield Eastern at a value of 118 million Kuwaiti dinars ($385 million) after its bid was determined to be fully compliant with the project’s technical and commercial requirements, the newspaper reported on Saturday.
In February 2025, KOC had signed memoranda of understanding with five international oilfield service companies, namely SLB, Baker Hughes, Weatherford, Halliburton and National Energy Services Reunited (NESR) to support development of the AIV initiative.
According to an Al Rai Media report published last month, other offers included Halliburton (KWD 126.6 million); Baker Hughes (KWD 83.5 million) and NESR (KWD 75.9 million).
KOC’s CEO Ahmad Jaber Al-Eidan had said in February 2025 that the project will enable Kuwait to keep pace with global transformations while investing in advanced technologies to ensure the sector's sustainability and achieve operational excellence.
(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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