SLB Secures $1.5 Billion Contract for Mutriba Field Development in Kuwait

SLB has been awarded a $1.5 billion contract by Kuwait Oil Company to design, develop, and manage production at the Mutriba field in Kuwait. The project aims to develop difficult and hard-to-reach oil and gas resources more quickly while minimizing environmental impact. The contract represents a trust and cooperation between KOC and SLB, expanding SLB's scope of work and responsibility. Oilfield equipment and service companies rely heavily on capital spending by upstream energy producers, which is influenced by fluctuations in oil prices.