Iraq awards drilling contracts worth US$347.8 million

oil iraq-SMelindo flickrIraq awarded the contracts to three international oil service companies. (Image source: S Melindo/Flickr)Iraq has announced that it has awarded drilling contracts worth US$347.8mn for the onshore Maysan oilfields situated in the south of the country

Iraq awarded the contracts to three international oil service companies — US’ Weatherford, China’s Bohai Drilling Services Company (BDEC) and China Oilfield Services Limited (COSL) — to drill 39 production wells in the 2.5bn barrel Maysan complex being developed by China National Offshore Oil Corporation (CNOOC) and state-run Turkish Petroleum Corporation (TPAO).

Weatherford was awarded two drilling contracts worth US$94.98mn and US$82.39mn respectively. China’s BDEC won a US$96.66mn contract, a federal Oil Ministry statement said.

COSL, a specialised oil services unit of CNOOC, was awarded a US$73.82mn drilling deal. However, it was not clear how many wells each company would drill, Reuters reported.

Iraq had signed a deal in 2010 with CNOOC and TPAO to develop Maysan, comprising several small oilfields, aiming to reach a production target of 450,000 bpd by 2016.

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