Offshore Technology · February 4, 2026 · 1 min read

SLB wins $1.5bn contract for next stage of Mutriba field development

Analysis

OilCyprus Editorial

SLB (Schlumberger) has been awarded a significant $1.5 billion contract by Kuwait Oil Company (KOC) to spearhead the next phase of development at the Mutriba oil field in Kuwait. This five-year integrated project underscores Kuwait's commitment to expanding its oil production capacity and SLB's strong position in the Middle East market.

Key Facts

The contract is valued at $1.5 billion.
The contract duration is five years.
The project involves the next stage of development at the Mutriba field in Kuwait.
Kuwait Oil Company (KOC) is the client.
SLB will provide integrated services for the project.

Market Impact

This large contract award signals continued investment in oilfield development in the Middle East, despite global energy transition efforts. It will likely positively impact SLB's revenue and backlog, reinforcing its market leadership. The project could also stimulate further investment in related services and technologies within the region.

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