Gulf Oil and Gas accountACCOUNT

Schlumberger Wins Contract in West Qurna Oilfield

Source: Reuters 11/29/2010, Location: Middle East

U.S. oil major ExxonMobil and its partners have awarded a contract to oil services firm Schlumberger Ltd to drill 10 wells in Iraq's West Qurna Phase One oilfield, industry sources familiar with the matter said.

The contract award was finalized a few days ago but a final contract is yet to be signed with Schlumberger, the sources told Reuters.

The new wells are part of the Exxon-led consortium's plan to rehabilitate West Qurna, for which it signed a 20-year development contract with Iraq earlier this year.

Leading service companies including Weatherford International Ltd, Halliburton Co, and Schlumberger were also invited to bid for another tender to drill 15 new wells, which could be awarded by early next year, industry sources told Reuters.

The state-owned Iraq Drilling Company was also invited to bid. Exxon and Royal Dutch Shell were awarded the deal to develop the 8.7-billion-barrel West Qurna Phase One field in an auction held by Iraq last year for oilfield development contracts.

Exxon and its partners raised their production plateau target for West Qurna Phase One to 2.825 million barrels per day after adding new reserves to the area.

Iraq has struck a series of development contracts with global oil companies that could also signal a bonanza for oil service companies.

In March, Schlumberger was awarded a contract to drill new wells in the Rumaila oilfield.

Baghdad awarded a series of massive oilfield development contracts last year to majors such as Exxon, Shell and BP that could more than quadruple its output capacity to 12 million bpd within seven years.

If it happens, such output levels would rival top producer Saudi Arabia and provide Iraq with the billions of dollars it needs to rebuild its shattered economy after decades of war, sanctions and neglect.

Exploration News in Iraq >>

Australia >>  10/10/2019 - Equinor has been awarded exploration acreage in the Northern Carnarvon Basin offshore Western Australia. The new exploration permit, WA-542-P, has be...
Norway >>  10/10/2019 - Norway's Petroleum Safety Authority has given Equinor consent to drill exploration well 32/4-3 S in production licence PL 921 in the North Sea.. The w...

Brazil >>  10/3/2019 - The ANP published, in the Official Gazette, a list of 13 companies qualified for the 6th Production Sharing Round. They were qualified at a meeting of...
Russia >>  10/3/2019 - Oleg Aksyutin, Deputy Chairman of the Gazprom Management Committee, Head of Department, and Nikolai Buynov, Chairman of the Board of Directors of Irku...

East Timor >>  10/1/2019 - H.E.Taur Matan Ruak, The Prime Minister of the Democratic Republic of Timor-Leste will be announcing the Open Door Round of Timor-Leste, during a spec...
Russia >>  9/30/2019 - As part of its exploration campaign, Rosneft Oil Company has successfully completed the drilling of the first prospecting and appraisal well at the Vo...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iraq >>

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.