Iraq awards four drilling contracts worth nearly $350m

04 September 2013

US’ Weatherford and Chinese firms win deal for 39 oil wells

Iraq’s Oil Ministry has awarded four drilling contracts worth nearly $350m for 39 oil production wells at the Missan oil fields in the east of the country.

The US’ Weatherford International was awarded two contracts worth $94.98m and $82.39m, Reuters news agency reports. China’s Bohai Drilling Engineering Company also won a $96.66m contract. China Oilfield Services Limited, a subsidiary of state-owned China National Offshore Oil Company (CNOOC), took the final contract worth $73.82m.

No details on the number of wells to be drilled by each firm have been revealed.

The Missan oil fields are being developed by CNOOC and Turkey’s TPAO, which agreed to increase production to 450,000 barrels a day (b/d) by 2016.

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