Iraq Awards $348M of Drilling Deals for Maysan Fields

Source: Reuters 9/3/2013, Location: Middle East

Iraq has awarded $347.8 million worth of drilling contracts for the Maysan oilfields in the south of the country, a government statement said.

Iraq awarded the contracts to three international oil service companies to drill 39 production wells in the 2.5-billion-barrel Maysan complex being developed by China's CNOOC and state-run Turkish Petroleum Corporation (TPAO).

U.S. oilfield services company Weatherford was awarded two drilling contracts worth $94.98 million and $82.39 million respectively. China's Bohai Drilling Engineering Company won a $96.66 million contract, the statement said.

COSL, a specialised oil services unit of CNOOC, was awarded a $73.82 million drilling deal. It was not clear from the statement how many wells each company would drill.

Iraq signed a deal in 2010 with China National Offshore Oil Corp (CNOOC) and TPAO to develop Maysan, comprising several small oilfields, aiming to reach a production target of 450,000 barrels per day by 2016.

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