Iraqi drill reveals details of its contract with Basra oil to dig dozens of wells in Majnoon

Iraqi drill reveals details of its contract with Basra oil to dig dozens of wells in Majnoon Sunday, February 3, [You must be registered and logged in to see this image.] [You must be registered and logged in to see this link.]

The Iraqi Drilling Company announced on Sunday the details of its contract with the Basra Oil Company to dig dozens of wells in Majnoon field. The company stressed that the project is a challenge to prove its ability to compete with foreign drilling companies operating in Iraq . 

"The contract signed a few days ago by the Basra Oil Company to dig 43 wells in Majnoon field is divided into 40 development wells, an appraisal well and two water wells," the director of the oil ministry's company said in a press conference held at the company's headquarters and attended by Alsumaria News. "Noting that" the contract worth 255 million dollars, and is scheduled to complete the work within 24 months, bringing the production of the field to 450 thousand barrels per day. "

Khadair pointed out that "the contract is a great deal of technical and contractual details, which is the largest contract expected by the Iraqi Drilling Company since 2003, so the project is a challenge to our company to demonstrate the potential of the national effort in terms of ability to compete with global drilling companies," adding that " Keep drilling and reclamation rates relatively low by competing with US, European and Chinese drilling companies operating in Iraq. " 

Khudair pointed out that "the Iraqi Drilling Company owns 47 towers to dig oil wells, and the modern ones are working for companies including ( Petroleum ) and (Petronas) and ExxonMobil ", adding that "our plan is to increase the number of modern towers, A drilling contract in the Majnoon field, and we are currently purchasing three new towers with a capacity of 2000 hp. "

The Majnoon field, which is located in the province of Basra is the third largest oil field in the world, began to extract oil from it in 1978, and then stopped completely because of the first Gulf War, which took place some of the fiercest battles in the field of the field, and late 2009 reached the production of the field national effort To 90 thousand barrels per day, and in 2010 contracted the Ministry of Oil within the second licensing round with a coalition led by the company (Shell) global development of the field, and then abandoned the company's share in the field with the understanding of the Ministry of Oil, took Basra Petroleum Company to develop the field.




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