Weatherford announces contract awards with KOCand NOC in Qatar

Weatherford (WFRD) International announced two contracts in the Middle East, with Kuwait Oil Company and a National Oil Company in Qatar. KOC awarded Weatherford a Managed Pressure Drilling services contract, focusing on improving operational efficiency, enhancing safety, accelerating well-delivery timelines, and reducing costs by deploying Weatherford’s innovative Victus Intelligent MPD system. Known for its automation and precision, Victus enables safer and faster drilling by providing precise pressure control and real-time data integration to optimize well conditions in complex drilling environments. This advanced technology is set to support KOC’s goals for enhanced safety, speed, and cost efficiency in well delivery. In addition, Weatherford has secured a five-year contract with an NOC in Qatar to provide fishing and drilling tools, with a five-year extension option. This contract highlights Weatherford’s commitment to supporting the NOC’s operational resilience by offering advanced fishing and drilling solutions. These tools, combined with Weatherford’s technical expertise, will assist the operator in overcoming challenging fishing scenarios, ensuring continuity and efficiency in their drilling operations.Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “Weatherford is honored to partner with both KOC and an NOC in Qatar. These agreements underscore