Before the United States and Britain invaded Iraq in March 2003, their oil companies were shut out of oil-production contracts being negotiated by the government of Saddam Hussein. Today, more than six years of war later, Saddam is gone, and the U.S. and British oil companies are not only in on the oil contracts, they […]
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The latest news BP Iraq – Oil, oilfields, contracts, production and more – brought to you by Iraq Business News
BP has announced the first major contracts involving its partners on the rehabilitation of the Rumaila field in Southern Iraq. Three contractor groups were selected for drilling wells, worth a total of around $500 million, and will provide seven additional drilling rigs from the second half of 2010. The contracts will be awarded to: - […]
Three contractor groups were selected for drilling wells, worth a total of around $500 million and 2 two-year contracts, worth a total of around $100 million, have been awarded for the supply and installation of electrical submersible pumps and associated services.
Chinese firm Daqing and a joint venture between Schlumberger and the state-owned Iraq Drilling Co are each being awarded contracts to drill 21 new wells, while Weatherford International was awarded seven new wells.
BP and partner CNPC have awarded $500 million drilling contracts to raise production from the Rumaila oil field.