Kuwait Oil Company (KOC) awarded a $385 million contract to Schlumberger Oilfield Eastern Limited, a unit of SLB. The deal is valued at approximately 118 million Kuwaiti dinars.
SLB will develop the Ahmadi Innovation Valley (AIV) to serve as an advanced research and innovation hub. The company's bid was selected for full compliance with all technical and commercial requirements.
The award follows memoranda of understanding signed in February 2025 with international firms including Halliburton and Baker Hughes. The project aims to utilize advanced technologies to support Kuwait’s energy transformation and operational sustainability.