Iraq signs a contract with "Halliburton" To increase oil and gas production in the Ibn Omar and Sinbad fields
Baghdad, July 6 / WAM / The Iraqi Ministry of Oil announced the signing of the integrated management contract for the Ibn Omar and Sinbad fields in southern Iraq with the American company “Halliburton” for oil services.
The ministry said in a statement broadcast by the Iraqi News Agency that an integrated management contract for the “Ibn Omar and Sinbad” fields was signed between the Basra Oil Company and the “Halliburton” company, for a period of 5 years.
Bassem Muhammad Khudair al-Abadi, the Iraqi Oil Minister, confirmed during his presence and sponsorship of the signing ceremony that the agreement comes within the framework of the plans of the new Prime Minister Ali al-Zaidi’s government aimed at increasing production capacities at the oil and gas level within a future vision for investment in the field of energy.
He said that the Ibn Omar field will witness an increase in production of up to 150 thousand barrels per day during the next five years, in addition to the production of 300 million standard cubic feet per day of associated gas, with the increase rates in the Sinbad field ranging between 80 and 100 thousand barrels per day and the associated gas capacity increasing from 240 to 260 million standard cubic feet per day.
The Iraqi Oil Minister confirmed that the Ministry is moving forward with signing contracts with major international companies, especially American companies, and the Ministry will provide support and overcome obstacles to achieve goals and the public interest, pointing to the solidity of Halliburton, which has been working in Iraq since 2003.
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