Weatherford Signs Deal With Iraqi Drilling Company
The 18-month contract is for work in the Al-Nasiriyah oil field in southern Iraq’s Dhi Qar province.
Weatherford signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of 20 wells in the Al-Nasiriyah oil field in southern Iraq’s Dhi Qar province.
IDC will provide four rigs, civil works, and drilling services, and Weatherford will provide associated services.
Basim M. Khudair, general director for IDC, said the contract “sets the right ground for mutual and constructive joint cooperation in the future.”
The Iraq oil minister ordered state-run Dhi Qar Oil Company and IDC in 2018 to develop the Al-Nasiriya oil field, for which it budgeted $140 million to raise production from 90,000 B/D to 200,000 B/D.
A media report in September 2019 said IDC signed a contract with Dhi Qar Oil to drill 20 new oil wells in the Al-Nasiriyah field for $128 million.