Abraj Energy Services said on Saturday it had signed a five-year ‘strategic partnership deal’ with Kuwait Gulf Oil Co and Saudi Arabian Chevron to extract and drill for oil in Kuwait.
Global oil giant Chevron is a major player in Saudi Arabia’s energy market having a continuous upstream presence in the kingdom for more than seven decades. Kuwait Gulf Oil Co, a wholly-owned subsidiary of Kuwait Petroleum Corp for upstream oil and gas operations, represents the interest of the State of Kuwait in the Partitioned Zone (PZ) which lies alongside the border between Kuwait and Saudi Arabia.
The deal will see Abraj build three drilling platforms in the Wafra oilfield in Kuwait, the company said in a statement.
The deal comes “within the framework of strengthening (the company’s) position and expanding its operations in … the Middle East and North Africa,” the statement read.