Weatherford has signed drilling contracts with Saudi Aramco and Petroleum Development Oman (PDO), for three years and five years respectively.
Aramco has awarded the US company a lump-sum turnkey contract for drilling and intervention services. The plan is to carry out 45 wells per year.
The Weatherford Integrated Services and Projects (ISP) team will carry out the work.
“This award showcases the value of Weatherford’s comprehensive portfolio of technologies,” Girish Saligram, Weatherford president and CEO, said.
Saligram said the ISP team would “provide a superior project delivery model to aid Aramco in executing its strategy by elevating the customer experience and results. We are excited to continue this long-term business relationship with Aramco.”
Weatherford announced its Saudi contract the day after its work in Oman.
The PDO deal is worth more than $500 million, Weatherford said. It will provide integrated drilling services at the Marmul and Greater Saqar fields.
The company plans to begin operations this quarter. It expects to carry out more than 700 wells on the fields in the coming years.
Saligram said Weatherford’s integrated services offering was “gaining significant traction in the market. This award builds on our long and proven history of delivering technology leadership and innovation and is a testament to the competitiveness of our portfolio.”
The official attributed the contract award to Weatherford’s “service quality, value proposition and local content”. The company will “enable safe drilling operations that maximise efficiency while delivering value and reducing carbon emissions”.