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 due to problems with low levels of water injection.
(Source: Reuters)
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