SLB Wins Seven-year Kuwait Oil Tech Contract

June 30, 2026 — 08:58 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Oilfield services company SLB N.V. (SLB) announced on Tuesday that it has been awarded a seven-year contract by Kuwait Oil Company or KOC to develop and deploy advanced technologies under KOC's Ahmadi Innovation Valley program.

SLB will work with KOC on nearly 100 projects focused on AI, production optimization, reservoir technologies, water management and energy transition. The work aims to improve upstream operations and build local technical expertise.

As part of the deal, SLB will build a dedicated innovation facility in Kuwait. Construction starts in 2026 and the center is set to open in 2028.

In pre-market activity on the NYSE, shares of SLB were up 0.58 percent, changing hands at $46.63, after closing Monday's regular session 1.32 percent lower.

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

SLB Wins Seven-year Kuwait Oil Tech Contract

Tags

Latest Articles