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Halliburton offshore contract raises hopes for Kuwaiti oil sector activity
The 1 July award of a $597m drilling services contract to United States-based oilfield services giant Halliburton represented the first offshore exploration project in Kuwait in some 30 years. It has breathed new life into Kuwait Oil Company (KOC)’s stuttering efforts to raise crude production capacity to a targeted 4m b/d. Crucially, KOC is doing this by circumventing Kuwait’s sclerotic bureaucracy, having launched the drilling tender without going through the Central Agency for Public Tenders (CAPT).
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