Sharjah National Oil Corporation (SNOC) has awarded a framework agreement to SLB (erstwhile Schlumberger) to execute its new underbalanced coiled tubing drilling (UBCTD) project, the hydrocarbon major said in a statement.
The new deal will see the management of up to four wells with an option to extend the project to two years.
Furthermore, the project will support SNOC’s ongoing economic and operational optimisation efforts and increase the productivity of its gas operations and storage in the Moveyied field.
The agreement covers the project management and execution of Integrated coiled tubing drilling services comprising the provision of a coiled tubing drilling unit, fluid pumping services, nitrogen pumping services, underbalanced flowback package, CTD directional BHA’s, drilling services, and drill bits.
The contract will help drive further efficiency in its cost and operations, Hatem Al Mosa, CEO of SNOC, said in the statement.
SNOC was the first in the Middle East to employ UBCTD technology on the Sajaa Field in Sharjah in 2003.
The company recently commissioned a new strategic gas storage project and signed concession agreements in Sharjah Onshore for 3 Areas with the Italian energy major, Eni, to explore and develop oil and gas fields in the emirate, the statement said.