Weatherford Awarded Digital Oilfield Project in Kuwait
HOUSTON, December 1, 2021 – Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it was awarded a three-year digital oilfield contract from one of the digital leaders in the upstream industry, Kuwait Oil Company (“KOC”), aiming to support its digital transformation strategy in North Kuwait Heavy Oil field and for deploying its Integrated Enterprise Excellence Platform across KOC. The award also includes instrumentation, real-time monitoring, and production optimization and assurance of wells to enable KOC to optimize its production and workover plans.
The project scope will support KOC in performing heavy oil wells analysis, model tuning, well design, asset optimization, surveillance and forecasting, and integrating with different E&P applications. Weatherford will also deploy integrated planning and optimization solutions from the reservoir to export facilities at KOC’s corporate level. In addition, the integrated solution will allow KOC to leverage the full value of its existing KwIDF systems while the Integrated Enterprise Excellence Platform will enhance efficiency and support KPI tracking.
Supporting these value drivers is the Weatherford ForeSite production optimization platform, which delivers insight that enhances production, maximizes uptime, and improves personnel efficiency. Leveraging advanced analytics, artificial intelligence and machine learning, the platform synthesizes data from across the operator’s business to help find and prioritize production-uplift opportunities, identify bottlenecks, detect and predict failures, plan and execute workovers. These capabilities continuously improve production performance for wells, reservoirs, and surface facilities.
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Weatherford is a leading global energy services company. Operating in approximately 75 countries, the Company answers the challenges of the energy industry with its global talent network of approximately 17,000 team members and approximately 350 operating locations, including manufacturing, research and development, service, and training facilities.
Director Global Communications