Baghdad, July 5 (SANA) Iraq has signed a five-year agreement with U.S. oilfield services company Halliburton to develop the Bin Omar and Sindbad oil fields as part of efforts to increase the country’s oil and natural gas production, the Oil Ministry said on Sunday.
According to the Iraqi News Agency (INA), the agreement was signed between the state-run Basra Oil Company and Halliburton under the government’s strategy to expand production capacity.
Oil Minister Basim Mohammed Khudair al-Abadi said the project aims to raise output at the Bin Omar field to 150,000 barrels per day and increase associated gas production to 300 million standard cubic feet per day.
The agreement also includes the development of the Sindbad field, where oil production is expected to rise from 80,000 to 100,000 barrels per day, while associated gas output is projected to increase from 240 million to 260 million standard cubic feet per day.
Al-Abadi said Iraq will continue to pursue partnerships with major international energy companies, particularly U.S. firms, noting that Halliburton has operated in the country since 2003.
Last month, the ministry said it was working to restore crude oil production to levels seen before the recent conflict in the Middle East, when output averaged 4.2 million to 4.3 million barrels per day, alongside plans to increase exports through Iraq’s southern ports.
kA.ABD
