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SLB Wins Seven-Year Kuwait Oil Company Innovation Contract

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SLB (SLB) said Tuesday it was awarded a seven-year contract by Kuwait Oil Company under the Ahmadi Innovation Valley initiative to support applied research, technology deployment and digital innovation programs aligned with Kuwait's long-term energy objectives.

Financial details weren't disclosed.

The collaboration will focus on digital and strategic priorities, including artificial intelligence, industrial internet of things applications, reservoir technologies, production optimization, water management and energy transition initiatives.

As part of the contract, SLB plans to establish a dedicated Ahmadi Innovation Valley facility in Kuwait, with construction expected to begin in 2026 and the facility scheduled to open in 2028, the company said.

Price: $46.28, Change: $-0.11, Percent Change: -0.23%

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