Iraqi Drilling Firm Starts Work in Zubair Oilfield

Source: Reuters 5/15/2011, Location: Middle East

State-run Iraqi Drilling Co has started working in the Zubair oil field under a $250 million contract to drill 23 new wells in the field, developed by Italy's ENI, the head of the firm said on Sunday. Director Idrees al-Yassiri said the two-year contract also included overhauling 63 old wells in Zubair.

"We have started executing the contract awarded to us by ENI ... The total expected production after completing the project will be more than 250,000 barrels per day from these wells," Yassiri said during a trip to Zubair oilfield.

ENI, U.S.-based Occidental Petroleum Corp and South Korea's KOGAS signed a 20-year deal with Iraq to develop Zubair. They set an eventual output target of 1.2 million barrels per day. The Iraqi company has also floated a tender to purchase five drilling towers and has invited foreign companies to bid, Yassiri said, without giving further details. Iraq has signed a series of deals with international oil firms to develop its vast oil reserves in a bid to boost output potential to 12 million bpd from around 2.7 million bpd now.




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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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