BAGHDAD: Iraq’s government and US oil services giant Halliburton signed a deal Sunday to manage two oil fields in the country’s south, as Baghdad looks to boost production.
The state-owned “Basra Oil Company has signed a joint management contract with the American company Halliburton for the Bin Omar and Sinbad oil fields” in Basra province, said the Iraqi oil ministry’s media office.
Iraqi Oil Minister Bassem Khodeir said the deal with Halliburton aligns with the government’s plans to “boost oil and gas production capacity.”
He added that Iraq aims to boost oil output at the Bin Omar field by 150,000 barrels per day (bpd) within five years, along with 300 million cubic feet of associated gas.
Production at the Sinbad oil field should increase by 80,000 to 100,000 bpd.
