Technology company SLB (SLB) said on Tuesday that Kuwait Oil Company has awarded SLB a $1.5 billion, five-year integrated contract for the Mutriba field in Kuwait, including design, development, and production management.
The work builds on SLB's subsurface understanding of the Mutriba field to support development planning and execution across deeper, technically demanding reservoir conditions. The contract covers the development of high-pressure, high-temperature reservoirs with sour conditions, reflecting an expanded scope and responsibility for SLB as work on the Mutriba field progresses.
"This award reflects the strength of our long-standing partnership with Kuwait Oil Company and the trust built over decades of working together," said Steve Gassen, executive vice president, Geographies, SLB. "As development of the Mutriba field moves into its next stage, we are taking on end-to-end responsibility to support safe, reliable execution in complex reservoir conditions."
The contract advances work already underway and reflects a deepening of the long-standing partnership between SLB and Kuwait Oil Company as development progresses.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.