Halliburton Wins Iraq Contract From Exxon Mobil

Printer Friendly Version

Halliburton, the world's second-largest provider of oilfield services, won a contract from Exxon Mobil, the largest U.S. oil company, to provide drilling services for 15 wells in Iraq's West Qurna field. Financial terms of the contract were not disclosed.

Last month, Exxon Mobil (XOM) said output at West Qurna has risen to 285,000 barrels per day, but an Iraqi oil official put the figure at 310,000 barrels per day while saying output there could jump to 400,000 barrels per day by the end of this year. The field is believed to hold 8.7 billion barrels of oil reserves. Royal Dutch Shell (RDS-A), Europe's largest oil company, partners with Exxon in developing the field.

Halliburton will provide a complete range of construction services using three drilling rigs to deliver the wells in the first phase of the West Qurna project, Reuters reported, citing the company.

Texas-based Halliburton (HAL) signed deals last year to provide drilling services in Iraq's Majnoon field and the Zubair field, both in the southern part of the country. Schlumberger (SLB) is the world's largest oilfield services provider.