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Halliburton awarded $278 million drilling contract
5/2/15
Iraq has approved a $278 million drilling deal with Halliburton for the southern West Qurna- 1 oilfield.
Under the 30-month contract, Halliburton is to drill 30 oil wells in the 8.7-billion-barrel West Qurna Phase One field.
Oil production at the West Qurna-1 field is running at a rate of 360,000 barrels per day due to problems with low levels of water injection, which is needed to boost production. The field is currently operated by Exxon Mobil.
Iraq has awarded lucrative oilfield development contracts to majors such as Royal Dutch Shell, BP and Exxon Mobil with the ambitious target of expanding its oil production capacity to 8.5-9 million bpd by 2017.
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5/2/15
Iraq has approved a $278 million drilling deal with Halliburton for the southern West Qurna- 1 oilfield.
Under the 30-month contract, Halliburton is to drill 30 oil wells in the 8.7-billion-barrel West Qurna Phase One field.
Oil production at the West Qurna-1 field is running at a rate of 360,000 barrels per day due to problems with low levels of water injection, which is needed to boost production. The field is currently operated by Exxon Mobil.
Iraq has awarded lucrative oilfield development contracts to majors such as Royal Dutch Shell, BP and Exxon Mobil with the ambitious target of expanding its oil production capacity to 8.5-9 million bpd by 2017.
[You must be registered and logged in to see this link.]
