Chinese enterprise is Kuwait’s biggest oil drilling contractor

Chinese enterprise, Sinopec International Petroleum Service Corporation, has become Kuwait’s biggest drilling contractor in less than 10 years as a result of its advanced technology, good services and cost-effectiveness.

The Kuwaiti oil market has of late seen the introduction of Chinese-made drilling equipment worth more than 4.3 billion yuan. This has promoted further development of China’s oil equipment and broken the monopoly of European and American equipment in the Middle East.

Sinopec has an edge over world-renowned drilling companies and local Kuwaiti counterparts with its relatively low pricing and advanced technology. In addition, more than 3,000 employees of the Chinese enterprise stick to their jobs despite the hostile drilling environment, including continuous high temperatures and frequent sandstorms.

The Chinese enterprise supported the Kuwaiti government to achieve its national strategy. Though Kuwait’s oil reserves account for 10 per cent of the world’s total, the country has suffered from weak basic industry and lack of professional and technical personnel to improve oil production.

“Taking the opportunity of joint construction of the Belt and Road Initiative and industrial capacity cooperation, China and Kuwait will continue to promote bilateral economic and trade cooperation as well as collaboration in oil and gas, energy, financial investment and science and technology to benefit both people in the future,” said Wang Di, Chinese ambassador to Kuwait.

By the first quarter of 2017, Chinese enterprises had won 64 engineering projects in Kuwait worth $ 13.7 billion, involving oilfield service, exploration, refining and chemical industry, housing, infrastructure and telecommunications.