Drilling News: KPC to Expand Activities for 2023-2024.

In recent drilling news, Kuwait’s state oil operator announced it intends to issue 15 new tenders in the next fiscal year 2023-2024 to support services as part of its ongoing expansion plans.

The Kuwait Petroleum Corporation (KPC), which manages Kuwait’s hydrocarbon industry, will issue the tenders for local and global firms in sectors covering supply of equipment, operation of oilfield systems, maintenance of computer systems, management of technology services, repair and maintenance services for oil installations in various areas, and other services, the Arabic language daily Al-Anba said, citing documents obtained from KPC.

The paper said those tenders do not include projects expected to be announced by KPC’s subsidiaries during fiscal 2023-2024, which starts on April 1.

KPC manages eight major Kuwaiti oil firms but there have been reports the Gulf state, which controls the world’s sixth largest recoverable oil deposits, is planning to reduce that number through mergers to slash costs and boost efficiency.

Drilling News 4 Apr 2023