Oil & Gas Middle East
Weatherford is back on our list, thanks to major contracts that the company secured from ADNOC last year. In November 2021, the company was awarded two five-year contracts with ADNOC with a combined value of more than $1 billion for downhole completions equipment and liner hanger systems.
The Houston-based firm received another five-year framework agreement from ADNOC to provide directional drilling and logging-whiledrilling services. The contract is currently valued at over $400 million and ADNOC has an option to extend the contract for an additional two years.
Weatherford also secured a three-year digital oilfield contract from Kuwait Oil Co (KOC), aiming to support its digital transformation strategy in North Kuwait Heavy Oil field and for deploying its Integrated Enterprise Excellence Platform across KOC. The award also includes instrumentation, real-time monitoring, and production optimisation and assurance of wells to enable KOC to optimise its production and workover plans.
Additionally, Weatherford received two five-year artificial lift awards from Tatweer Petroleum in Bahrain to deliver, install, and service beam pumping units and downhole pumps.
On the technology front, Weatherford formed a collaboration with Sub Sea Services to transform Managed Pressure Drilling (MPD) from an add-on to an integrated part of the drilling rig. The collaboration will integrate Weatherford’s field-proven technologies with a remotely operated pull-in system from Sub Sea Services. The result will be an industry-first complete integration of MPD and typical riser auxiliary lines into a single automated connection across a range of drilling operations.