Basra Announces turning the Iraqi Drilling Company to a profitable company confirms its readiness oil projects


Twilight News / Chairman of the Commission on oil and gas in the Basra Governorate Council Shaddad Knight announced on Thursday for turning the Iraqi Drilling Company into a profitable company after it was losing the company during the first quarter of 2015.

Knight said in a statement responded to the Twilight News, said that "this transformation came thanks to the great efforts made by the Associates of the company and their role in the excavation of hundreds of wells in the province of Basra, commensurate with the quality and safety procedures."

He added that "the company has been able in the past periods of drill more than 144 wells in addition to the rehabilitation of 508 wells in favor of licensing rounds, companies are now working to international standards to enable them to get the bids in the inside and outside Iraq, especially after gaining global certificates in quality and safety and the environment. "

He continued that "the decline in oil prices and a decline in oil imports, and the pressure by the Ministry of Oil companies licensing rounds to reduce oil production costs will force investment companies in the province of Basra to enter the Iraqi Drilling Company partner based in access to secondary contracts to enable them to work in the reclamation of oil wells "noting that" the company has a large fleet of machines and equipment for the drilling of oil wells, they contain (47) rigs and reclamation, and where there is more than one (8141) as an associate in all disciplines. "

He pointed jockey that "this achievement is achieved thanks to the continuous monitoring of the oil minister and his large in the development of the company's work and upgrading of the administrative and technical aspects, as well as the role of the current management of the company Iraqi Drilling, which was able in a short period of record relocating work to levels that make them able to compete with major international companies. "