Weatherford Announces Contract Awards with Kuwait Oil Company and NOC in Qatar
Weatherford International plc - Ordinary shares (WFRD)
Company Research
Source: GlobeNewswire
HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced two contracts in the Middle East, with Kuwait Oil Company (“KOC”) and a National Oil Company (“NOC”) in Qatar. KOC awarded Weatherford a Managed Pressure Drilling (“MPD”) 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 extensio
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