By Connor Hart
SLB said it has been awarded a seven-year contract by state-run Kuwait Oil, supporting research, technology and digital-innovation programs aligned with Kuwait's long-term energy objectives.
The oilfield-services company, formerly known as Schlumberger, said Tuesday it will work with Kuwait Oil--a subsidiary of Kuwait's national oil company, Kuwait Petroleum--to evaluate, test and deploy a range of technologies including artificial intelligence, industrial internet-of-things applications, production optimization, reservoir technologies, water management and energy-transition initiatives.
"The energy industry has no shortage of technology," SLB Chief Executive Olivier Le Peuch said. "The challenge is deploying it at scale and turning innovation into operational impact."
Exact terms of the contract weren't disclosed.
As part of the agreement, SLB said it will establish a dedicated Ahmadi Innovation Valley facility in Kuwait, with construction expected to begin in 2026 and opening planned for 2028.
Ahmadi Innovation Valley is Kuwait Oil's flagship innovation initiative, which brings together industry, academia and technology providers to address strategic upstream technical challenges, the company said.
Write to Connor Hart at connor.hart@wsj.com