Kuwait Oil Company grants exploration contract to Terra Technologies

explorationTerra Energy & Resource Technologies, a natural resource exploration technology company, has been granted a services contract by Kuwait Oil Company (KOC) for oil and gas exploration in Kuwait

The services contract was a result of Terra winning a public tender to provide satellite-based mapping technique to subsurface structural features for North and South Ratqa Field, as announced by KOC in 2012. Terra has plans to deploy its sub-terrain prospecting technology over a 200 sq k area and complete its analysis within four months.

Dmitry Vilbaum, CEO of Terra Energy & Resource Technologies, said, "We have started expanding into the Middle Eastern markets together with our partner in the region Petrosas."

Alexandre Agaian, president of Terra Energy & Resource Technologies, added, "Kuwait is a major oil producer, and while its geology is well understood generally, some areas remain challenging. Terra specialises in complicated geology and is proud to be chosen for this new KOC work programme."

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