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By John Lee.

Iraqi drilling experts at the Iraqi Drilling Company (IDC) have successfully completed the drilling of oil well 61, reaching a depth of 2096 meters in the Nasiriya oil field.

This achievement marks the fifteenth well completed by the company under the contract signed with Dhi Qar Oil Company (DQOC) to drill a total of 20 oil wells in collaboration with oilfield services company Weatherford.

The drilling operations were carried out using the high-capacity IDC44 drilling rig with 1000 horsepower.

(Source: Ministry of Oil)

By John Lee.

The Iraqi Drilling Company (IDC) has successfully completed drilling operations for the Nasiriyah-60 oil well in Dhi Qar province.

The well, reaching a depth of 2,110 meters, is part of the "Mushrif [Mishrif] Formation", and the project is a contract with the Dhi Qar Oil Company (DQOC).

The project entails drilling 20 oil wells in collaboration with Weatherford.

The drilling utilized the 1,000 horsepower drilling rig, 46 IDC, marking the 14th well completed by the company under this contract.

(Source: Ministry of Oil)

By John Lee.

The Iraqi Drilling Company (IDC) has recently completed the drilling of oil well 48 at the Nasiriyah oil field.

The company's general manager, Engineer Basem Abdel Karim Nasser, said this was part of the contract with Dhi Qar Oil Company (DQOC) to drill 20 oil wells at the field in cooperation with US-based Weatherford.

Drilling operations were carried out over 18 months using the IDC 44 drilling rig.

IDC has also recently completed the drilling of oil well J120P in the Al-Gharraf field, which reached a depth of 3,037 meters.

Nasser said this was the thirteenth well drilled as part of the contract with the Malaysian Petronas company to drill 28 directional oil wells in the Al-Gharraf oil field in Dhi Qar Governorate.

The work was carried out using the IDC 54 drilling rig (pictured), which has a power of 2000 HP.

The company owns 43 drilling and reclamation rigs distributed in the Iraqi oil fields.

(Source: Ministry of Oil)

By John Lee.

The Iraqi Drilling Company (IDC) has started work on the first of its 20 oil wells at the Nasiriyah oil field in Dhi Qar.

IDC's Director General, Basem Abdul Karim, said that the project is part of a contract with the Dhi Qar Oil Company (DQOC) in cooperation with Weatherford.

The planned depth of the well is 2,200 meters.

The project is to be completed within 18 months.

(Source: Ministry of Oil)

Weatherford International has announced that it has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

Basim M. Khudair, General Director for IDC, said:

"Signing this contract between IDC and Weatherford is a great accomplishment for both parties. It sets the right ground for our mutual and constructive joint cooperation in the future."

IDC will provide rigs, civil works and drilling services; Weatherford will provide project management and all other associated services. The operation will be performed with four rigs provided by IDC.

Frederico Justus, President, International Operations, Weatherford, noted:

"This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract."

IDC is a leading Iraqi service company focusing on rig services and is a key player in the nationalization program for the country's oil and gas sector.

(Source: Weatherford)

Weatherford International plc (OTC-PINK:WFTIQ) has announced it has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a multinational operator in one of the world’s largest proven oil fields located in Iraq.

Frederico Justus, President of the Eastern Hemisphere for Weatherford, said:

“Weatherford has operated in Iraq since 2006, longer than any other multinational oilfield services provider.

“During that time, Weatherford proved to operators in Iraq that its capabilities across the life of the well reduce costs, enhance safety and maximize production efficiency.

"This experience gave the operator confidence in our ability to execute these turnkey drilling projects in one of their most strategic global locations.”

For the next two years, Weatherford will provide integrated services to drill development wells in one of Iraq’s most productive oil fields.

For the next five years, Weatherford will provide in-country support and specialized well services, including workshop services, fishing, milling, water shutoff and zonal isolation.

(Source: Weatherford)

By John Lee.

ADES International Holding Ltd., a London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa, is to expand into Southern Iraq.

The company will acquire two idle land rigs in Iraq from Weatherford, as part of a $287.5-million deal to buy 31 rigs from the Swiss-based company.

Commenting on the transaction, Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, said:

"We are truly delighted to have signed this agreement with Weatherford ... [which] significantly expands ADES' total fleet and more than doubles its operational fleet"

(Sources: ADES International Holding Ltd., Weatherford)

By John Lee.

In its First Quarter 2016 Results, oil services company Weatherford said that it has now largely completed its Zubair project in Iraq.

Net cash expenditure on the project to date amounts to $47 million.

Shares in Weatherford have fallen by almost 30 percent since the results announcement.

(Source: Weatherford, Yahoo!)

By John Lee.

An investigation by Fairfax Media -- publisher of The Age and The Sydney Morning Herald newspapers -- and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya.

Following examination of tens of thousands of emails, the report says that Unaoil channelled huge bribes to government officials on behalf of its clients to help win billions of dollars worth of government contracts.

In Iraq, it accuses the company, and its country manager Basil Al Jarah, of arranging bribes for clients including Rolls-Royce, Petrofac, Clyde Pumps, Weatherford, Cameron/Natco, FMC Technologies, Saipem, SBM Offshore, MAN Turbo, Rosetti Marino, ABB, The Shaw Group, Core Labs, Leighton Offshore, Weir and Hyundai.

Public officials allegedly implicated include Dr Hussain al-Shahristani, former Minister for Oil and current Minister for Education, who has denied any wrongdoing; Abdul Kareem al-Luaibi [Elaibi], former Minister for Oil; Kifah Numan, Director General of the South Oil Company (SOC); Dhia Jaffar also a Director General of the SOC and since last year a Deputy Minister for Oil in the Iraqi government; and Oday al-Quraishi (SOC).

According to the report, "Unaoil made Dhia Jaffar and Oday al-Quraishi wealthy men."

Family owned and controlled, Unaoil was founded by the Iranian-born Ata Ahsani, who left Tehran at the time of the Islamic revolution. The company says it "strenuously [denies] any wrongdoing and consider[s] the allegations to be baseless and entirely false."

The original story can be read in more detail here.

(Source: The Age)

(Corruption image via Shutterstock)