Weatherford bags $67.4m drilling contracts for Russian oil fields

Weatherford International has revealed to have won a couple of contracts with a combined value of $67.4 million for providing drilling services for various Russian oil fields for two major operators.

The first contract is for two-and-a-half years, said the US-based oilfield service company. Operations under this contract started in July 2019 and will go on till the end of 2022.

Weatherford will deliver logging-while-drilling (LWD), measurement-while-drilling (MWD), rotary steerable systems (RSS), drilling, and geo-data interpretation services at various oilfields in Western Siberia for the undisclosed client.

The second contract is for providing drilling services for three years. Operations under the drilling services contract will commence in early 2020 with Weatherford to provide LWD, MWD, RSS, geosteering, and geo-data interpretation services at the Novyi Port oilfield located in the Yamal Peninsula.

Weatherford wins two drilling contracts for Russian oil fields. Image courtesy of Supertrooper at FreeDigitalPhotos.net

Commenting on the drilling contracts for the Russian oil fields, Fayaz Kamalov – Weatherford Vice President of Russia said: “These long-term contracts with major operators in Russia are a testament to Weatherford’s record of advancing drilling technology and delivering excellent service in that region.

“Major Russian operators are investing in Weatherford drilling services because of our best-in-market technology, unceasing dedication to growing our capabilities, and the professional knowledge of our team.”

To support its customers and operations in Russia, Weatherford is currently operating multiple local facilities. It has three full-time drilling service centers in major production areas in Russia to maintain field equipment, while a real-time operations center offers 24/7 remote support for all ongoing projects.

Weatherford said that it will be mobilizing the Magnus rotary steerable system to Russia to address the growing activity and challenging customer needs which the system is uniquely suited to handle.

Last month, Weatherford won two fully integrated rig contracts and a well services (through-tubing intervention) contract with an undisclosed multinational operator for an Iraqi oil field, which is considered to be one of the largest proven oil fields in the world.