Name of Client: Kuwait Oil Company (KOC)

Budget: $904,500,000

Contract Value: $597,000,000

Facility Types: Development Drilling & Production

Field Type: Greenfield

Sectors: Exploration & Upstream Production, Offshore

Main Contractor: KOC

Location: Various areas in Kuwait

EPC Award: Q1 – 2014

PROJECT BACKGROUND

After a comprehensive 3D seismic survey has indicated the potential for commercial production quantities, Kuwait Oil Company (KOC) is set to explore Kuwait’s offshore reserves. 

Kuwait Bay is a semi-enclosed shallow body of water extending approximately 35 km inland.

It is an ellipsis-shaped bay at the northwestern edge of Kuwait’s territorial waters and covers roughly 750 sq km. The water depth of Kuwait Bay is 5 m and the maximum depth reaches 20 m at the entrance to the bay.

PROJECT SCOPE

The project scope includes a 3D seismic survey covering 2,500 sq km. There are plans to increase oil production by 700,000 barrels per day and gas output to one billion cu ft, and the drilling of six high-pressure high-temperature (HPHT) exploration wells, with the potential to expand to 15 wells.

PROJECT STATUS

As of July 2026, drilling activities for the Jlaiaa-3 and Raqwa-3 wells are ongoing.

PROJECT FINANCE

Kuwait Oil Company (KOC) is the client of the project.

PROJECT TIMELINE

Project Announced: Q1 – 2014

EP: Q1 – 2014

PMC: Q1 – 2014

Construction: Q1 – 2024

Completion: Q1 – 2028