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Iraq contracts with Shell to drill 96 oil wells in Basra
- Time: 10/20/2021 12:32:39
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{Economic: Al Furat News} The Ministry of Oil signed, today, Wednesday, a contract with a consortium of Shell and ExxonMobil to drill 96 oil wells in the West Qurna 1 field in Basra Governorate.
Oil Minister Ihsan Abdul-Jabbar said on the sidelines of the signing ceremony in Baghdad that "this project will add more than one million and 400 thousand barrels per day to Iraqi production when this project is completed," noting that "the drilling of wells will be with a different technology."
He pointed out that "the cost of the project exceeds 4 billion dollars."
The Minister of Oil suggested "changing the price of a barrel of oil in the 2022 budget bill from 50 dollars to between 55 and 60 dollars with the rise in oil prices globally, in order to support the budget and financial revenues in the state."
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{Economic: Al Furat News} The Ministry of Oil signed, today, Wednesday, a contract with a consortium of Shell and ExxonMobil to drill 96 oil wells in the West Qurna 1 field in Basra Governorate.
Oil Minister Ihsan Abdul-Jabbar said on the sidelines of the signing ceremony in Baghdad that "this project will add more than one million and 400 thousand barrels per day to Iraqi production when this project is completed," noting that "the drilling of wells will be with a different technology."
He pointed out that "the cost of the project exceeds 4 billion dollars."
The Minister of Oil suggested "changing the price of a barrel of oil in the 2022 budget bill from 50 dollars to between 55 and 60 dollars with the rise in oil prices globally, in order to support the budget and financial revenues in the state."
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