SLB Awarded Seven-Year Contract Under Kuwait Oil Company's Ahmadi Innovation Valley Initiative

Global energy technology company SLB (NYSE: SLB) has been awarded a seven-year contract by Kuwait Oil Company (KOC) under the Ahmadi Innovation Valley (AIV) initiative. The agreement will support applied research, technology deployment and digital innovation programs aligned with Kuwait's long-term energy objectives.

Under the agreement, SLB will work with KOC to evaluate, test and deploy advanced technologies across a range of operational and strategic priorities, including artificial intelligence (AI), industrial internet of things (IIoT) applications, production optimization, reservoir technologies, water management and energy transition initiatives.

Ahmadi Innovation Valley is KOC's flagship innovation initiative that brings together industry, academia and technology providers to address strategic upstream technical challenges.

"Ahmadi Innovation Valley represents an important step in advancing technology leadership across Kuwait's energy sector," said Ahmad Jaber Al-Eidan, chief executive officer, Kuwait Oil Company. "Through collaboration with leading technology partners, we are accelerating technology deployment, strengthening local capabilities and expanding knowledge transfer to support Kuwait's energy industry."

"The energy industry has no shortage of technology. The challenge is deploying it at scale and turning innovation into operational impact," said Olivier Le Peuch, chief executive officer, SLB. "Ahmadi Innovation Valley brings together technology providers, researchers and operational teams to accelerate the evaluation, deployment and scaling of new solutions across KOC's operations. We are proud to contribute our technology, domain expertise and global experience while helping strengthen local capabilities and support the next generation of Kuwaiti talent."

Through the AIV initiative, SLB will support applied research and technology management spanning multiple business lines and technology domains. The initiative provides KOC with a flexible approach to evaluate, pilot and deploy new technologies.

As part of the agreement, SLB plans to establish a dedicated Ahmadi Innovation Valley facility in Kuwait, with construction expected to begin in 2026 and opening planned for 2028.

The award builds on more than 85 years of collaboration between SLB and KOC and marks a significant milestone in the companies' longstanding relationship.

Key Points:

• Kuwait Oil Company (KOC) awarded SLB a seven-year contract under the Ahmadi Innovation Valley (AIV) initiative.
• Through the AIV initiative, SLB will support applied research and technology programs across nearly 100 projects spanning artificial intelligence, industrial internet of things (IIoT) applications, production optimization, reservoir technologies, water management and energy transition initiatives.
• As part of the agreement, SLB plans to establish a dedicated Ahmadi Innovation Valley facility in Kuwait, with construction expected to begin in 2026 and opening planned for 2028.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

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