Iraq's Minister of Oil Bassim Mohammed, middle, oversees the signing ceremony between state-run Basra Oil Company and US oilfield services giant Halliburton. Photo: Iraq Oil MinistryIraq's Minister of Oil Bassim Mohammed, middle, oversees the signing ceremony between state-run Basra Oil Company and US oilfield services giant Halliburton. Photo: Iraq Oil MinistryContracts for Bin Omar and Al Sindbad aims to boost output by 250,000 bpd as Baghdad seeks more US energy investment
Iraq's Basra Oil Company signed a joint management contract with Halliburton for the Bin Omar and Al Sindbad oilfields in Basra province.
The deal aims to boost combined output by up to 250,000 barrels per day and significantly increase associated gas production over five years.
The agreement is part of Baghdad's broader push to attract US energy investment, reducing reliance on Chinese, Russian and European firms in its upstream sector.
Iraq seeks energy self-sufficiency, having previously signed deals with GE Vernova and Honeywell, while looking to cut dependence on Iranian electricity and gas imports.
