Iraq agrees to a deal worth 278 million dollars with Halliburton


Iraq agrees to a deal worth 278 million dollars with Halliburton

10/21/2014 21:14:00
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Iraq agrees to a deal worth 278 million dollars with Halliburton
The Cabinet has approved a deal worth 278.5 million dollars, with the Halliburton oil services for the American oil field south of West Qurna-1.
The government statement said that under the contract, which extends to 30 months will Halliburton drilled 30 oil wells in the field, the first phase of West Qurna, which is being developed by Exxon Mobil Corporation of America. The field has reserves of 8.7 billion barrels.
The average oil production in the West Qurna -1 around 360 thousand barrels per day due to problems related to low levels of water pumping required to boost production.
Iraq was laid rewarding contracts to develop oil fields to major companies such as Royal Dutch Shell, BP and Exxon Mobil ambitious aim is to increase the capacity of oil production to between 8.5 million and 9 million barrels per day by the year 2017.

PUKmedia for Reuters

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