Can you share NOV’s experience in Kuwait so far?

Certainly, NOV is a prominent equipment and technology provider for the global energy industry. We offer a comprehensive technology portfolio that caters to Kuwait’s drilling, completions, and production requirements. Currently, we operate under three segments: wellbore technologies, completion and production solutions, and rig technologies. In 2019, we established a joint venture in Kuwait, enabling substantial capital investment to localize our services and contribute to job creation for Kuwaitis. Our goal is to introduce value-adding technologies, including proprietary ones, to support Kuwait’s drilling and completion needs, as well as Kuwait Petroleum Corporation’s plan to increase production capacity. We primarily represent the Wellbore Technologies segment and certain aspects of Completion & Production Solutions. Our business covers all aspects of the drilling process, supported by our local setup. We sell, rent, and service equipment and technologies that optimize drilling and well completion operations. Kuwait’s market is crucial for NOV’s operations in the Middle East and North Africa (MENA) region, providing numerous opportunities for growth.

What unique solutions and services does NOV bring to Kuwait’s oil and gas sector?

We offer innovative technologies that enhance drilling performance, focusing on safety and efficiency. We have set several drilling records in collaboration with Kuwait Oil Company (KOC). Our solutions help customers address various drilling challenges. Through advancements in product lines such as drilling agitators, drilling motors, and drilling bits, we have achieved significant performance milestones. Our new Delta™ drill pipe connection is a noteworthy technology that combines performance and cost-effectiveness. We are particularly focused on this technology, both in Kuwait and the wider region. Additionally, we are laying the groundwork for drilling automation through digitalization. NOV is among the leading players in this area and applies artificial intelligence (AI) for optimized drilling using the KAIZEN™ app, for instance. Wired drill pipe is another technology we are introducing, enabling real-time delivery of downhole data at high speeds. These technologies, among others, help operators achieve their strategic goals by improving performance and extending asset lifetimes.

What is NOV’s perspective on the Kuwaiti market?

The Kuwaiti market is highly dynamic and active. Both KOC and Kuwait Gulf Oil Company (KGOC) seek technologies that address their unique challenges. These challenges differ from those encountered in other regions. The drilling parameters in Kuwait can be particularly demanding, and we continue to introduce technologies that have proven effective in these challenging drilling environments, especially for deep wells. Many companies have attempted different technologies but have struggled in Kuwait’s harsh operating conditions. Ultimately, we are here to support the industry and our customers. KOC is driving increased exploration and drilling activity, necessitating the drilling of more wells, which is why we are present in Kuwait today. We like to say that NOV “powers the industry that powers the world.”

How does NOV prioritize energy-efficient solutions for the Kuwait market?

In terms of environmental, social, and governance (ESG) considerations, we focus on energy transition, the impact on our business mix, climate-related risks, and greenhouse gas emissions. We have made notable achievements in this regard, such as introducing products that reduce the emission profile of our customers’ oil and gas operations. We develop technologies that enhance the economics of their entry into the renewable energy marketplace. Furthermore, we have successfully recycled approximately 60% of the total waste generated, primarily from our manufacturing plants located in various countries. Kuwait holds a special position when it comes to applying ESG policies. It benefits from a low cost of oil and gas extraction. The government continues to explore viable options aligned with its plans and strategies that make sense for this region. Currently, most renewable projects in Kuwait revolve around solar power, which is abundantly available.