Tuesday, 17 August 2010

Iraq, Shell and Petronas award a 15 well contract to Halliburton

Iraq, Shell and Petronas has awarded Halliburton a contract to drill 15 oil wells in Iraq's Majnoon oil field, while Petrofac secured a contract to develop two new crude processing plants with a capacity of 50,000 b/d each and to rehabilitate the existing crude oil plant.

"These contracts are part of implementing the preliminary plan to develop Majnoon oilfield for the next two years," said an Iraq oil industry official.

Shell and Petronas, who signed a contract to develop Majnoon oil field earlier this year, hope that their current output of 45,000 b/d will eventually increase to 1.8 million b/d.

Petrofac was awarded a two-year contract to build and develop Iraq's oil and gas infrastructure, as well as build new storage and export turbines for the oil field.

The contracts awarded to a number of international oil companies are expected to boost Majnoon's output capacity to 12 million b/d within seven years.

Source: Reuters

For more news and expert analysis about Iraq, please see Iraq Focus.

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