Tag Archives | Halliburton

US Firm in $210m Deal at Majnoon Field

By John Lee. According to a report from Reuters, Anglo-Dutch Shell has signed a $210-million contract with US-based Halliburton to drill 30 wells at the Majnoon field over the next three years. The contract is expected to raise output at the field from 220,000 barrels per day currently to about 400,000 bpd in three years. (Source: Reuters)

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UK opens Criminal Investigation into Unaoil

By John Lee. The UK’s Serious Fraud Office (SFO) has announced that it is conducting a criminal investigation into Unaoil, the Monaco-based company that has been implicated in an international corruption scandal. A statement from the SFO called for information relating to the allegations: “The SFO is conducting a criminal investigation into the activities of […]

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Halliburton Iraq Revenue Declines

By John Lee. In its Second Quarter 2016 Results, oil services company Halliburton has said its Middle East/Asia revenue declined 3 percent from the first quarter, due to lower activity levels in Iraq, Australia, and Indonesia. (Source: Halliburton)

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Iraq Approves $278m Halliburton Deal

By John Lee. The Iraqi cabinet has approved a drilling deal with Halliburton value at $278.5 million (324 billion Iraqi dinars). Reuters reports that under the 30-month contract, Halliburton will drill 30 oil wells in the 8.7-billion-barrel West Qurna-I field, operated by U.S. major ExxonMobil. Production at the field is currently running at around 360,000 bpd […]

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Halliburton Opens Internal Probe on Iraq Payments

By John Lee. Halliburton has begun internal investigations into alleged payments made to third-party agents related to customs matters in Angola and Iraq. Bloomberg reports that the world’s second- largest oilfield services provider alerted U.S. Justice Department and Securities and Exchange officials that it had begun the inquiry after meeting with them about another internal […]

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Halliburton Lands $95m Gazprom deal at Badra

Halliburton has won a $95 million contract from Russian state oil producer Gazprom Neft to test and complete 11 wells at its Badra oil field in eastern Iraq, according to the Wall Street Journal. Gazprom said testing of the first well is scheduled to start in the third quarter of this year. “Production will commence […]

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Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

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Halliburton Sees Iraq Business Accelerating

US oil field services provider Halliburton is beginning to see project activity ramp up in Iraq after delays led to financial losses in the country, reports Argus News. The company commenced drilling at three rigs late in the third quarter, and expects three more to come on line by the end of the year. “We […]

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Halliburton Wins ExxonMobil Contract for West Qurna I

Halliburton has been awarded a contract by ExxonMobil Iraq Limited (EMIL) to provide drilling services for 15 wells in the West Qurna (Phase I) oil field located in Southern Iraq. Halliburton will provide a complete range of well construction services utilizing three drilling rigs to safely deliver the wells. Joe Rainey, president of Halliburton’s Eastern […]

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Halliburton Reaches Profitability in Iraq

Announcing a 60% increase in net income for 2010, Halliburton‘s chairman, president, and chief executive officer, Dave Lesar (pictured), commented on the company’s Iraqi operations: “I am very pleased with our results on the international front. Key markets including Norway, West Africa, Iraq, and Algeria experienced increased activity … We continue to win significant additional […]

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Halliburton Complained of Iraq Security ‘Mafia’

Oil companies working in Iraq complained of a “mafia” type atmosphere that drove the price of security up considerably, according to leaked U.S. diplomatic cables revealed by Wikileaks. London’s Guardian newspaper reports that official at oil services company Halliburton complained the price of security in Iraq was “unwarranted” during a modestly secure environment in 2008. […]

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