What is your take on the OPEC decision to reduce output by 130,000bpd?

Ziad Jeha We do not expect the strategy of KOC to change or that activity to be affected by the new agreement. Post-agreement, most activities have been maintained. It is a challenging target for KOC to produce 4 million barrels in 2020, which is its main objective, so to steer in that direction, most activities are continuing. It could utilize the production cut as an opportunity to do some extra maintenance, but as far as surface and sub surface activities for Schlumberger and for other service companies are concerned, there has not been much impact.

Wafik Beydoun I do not have the necessary skills to speculate on oil prices. I prefer to anticipate, adapt, and stay focused on what we can control to stay profitable, and tackle short-term challenges with a long-term vision. Whatever the ups and downs of the oil market, we are prepared with our operational excellence mindset and able to manage complex to fully integrated projects while maintaining low costs.

Have you seen a strong appetite from KOC for new technology?

ZJ For the past 78 years that Schlumberger has been in Kuwait, Schlumberger and has been a major supplier of technology into the country. Kuwait has keenly developed and deployed technology to support its operations often in partnership with Schlumberger. It is my personal ambition to get Kuwait to be the first users of the new technologies that Schlumberger brings to the market. There have been several projects that KOC have executed with Schlumberger, where key parts of the technological development took place in close collaboration, thus creating great value. One example of this is in directional drilling, we have deployed our PowerDrive, which increases the efficiency of drilling into these high temperature and high-pressure reservoirs, delivering wells much faster. We have introduced new highway and broadband technologies to frack tight reservoirs and bring extra oil from existing wells, and we have received a number of awards from KOC in Kuwait for exceeding production expectations, mainly because we fracked wells that were perceived to be unfrackable.

How will you contribute to KOC’s objective of increasing production to 4 million barrels a day and how viable do you think that objective is?

WB There are two interrelated ways we could contribute to this objective: (1) provide the necessary skilled professionals who can work alongside KOC teams and transfer their know-how. For example, we will work on methods, processes, and strategies on field development plans and executions, and most importantly on cost discipline and cost reduction, while guaranteeing project excellence; and (2) bring the most innovative technologies that will be customized and deployed efficiently in complex and large assets, such as enhanced reservoir characterization and monitoring, sour hydrocarbon processing, cutting-edge multilateral drilling, extended reach drilling, and completions. Fundamentally, with a strategy based on improving oil recovery for each field, and an execution plan resulting from cementing the two ways described above, we share KOC’s objectives that they are attainable.

What are your ambitions for the year ahead?

ZJ Schlumberger operates almost all its global business lines in Kuwait at the moment, and over the past three years we have expanded adding two more. Drilling rigs services are an established and integrated part of our portfolio. Today, the flagship project for Schlumberger is the Rig of the Future, which is intended to revolutionize the way and the efficiency of the drilling process. The prototype will be out this year, and it is my ambition to have the first rig deployed and used in Kuwait. We have recently conducted a workshop within Kuwait and see good momentum and opportunity to have this new project here, as well as to showcase the robustness and efficiency of the new technology.

WB We are looking forward to finalizing our discussions with KPC, KOC, and others to grow Total’s partnerships and projects in Kuwait. As an IOC, the TSA/ETSA business model in Kuwait is unique compared to our core business in other parts of the GCC. However, Kuwait’s determination and vision to remain one of the top oil and gas producers in the world will expand our relationship for Total to work here, and contributing to the country’s ability to attract, develop, and retain more skills and technologies. This would also increase human capital development, in which Total can help in ensuring that KOC objectives are efficiently and effectively planned and executed at the operational level, with industry’s best practices, cost reduction, and innovative technologies.