Iraq granted Baker Hughes a contract worth $ 640 million in the Zubair field
20-12-2011 | (Voice of Iraq) BAGHDAD (Reuters)
Ali al-Dabbagh said Iraqi government spokesman said on Tuesday that Iraq awarded a contract worth $ 640 million to U.S. oil services company Baker Hughes to drill 60 wells in the Zubair oil field in southern Iraq.
Dabbagh said in a statement that the Iraqi government approved the request of the Oil Ministry awarded the contract which has a three-year U.S. firm.
Signed Italy's ENI and Occidental Petroleum, based in the United States and South Korean KOGAS a 20-year contract with Iraq to develop the Zubair field. Identified and these companies target production after the completion of the development by about 1.2 million barrels per day.
Iraq signed a series of contracts with international oil companies in an effort to raise production capacity to 12 million barrels per day, which may also lead to a boom in projects for the oil service companies.
The Russian company Lukoil oil has been granted Baker Hughes in August, two-year contract to provide drilling services and equipment for the full twenty-three wells in the second phase of the project to develop the West Qurna field in southern Iraq.
Baker Hughes has opened a base of operations in the oil center of Basra in southern Iraq last year.
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