New contracts with the licensing companies to drill oil wells in several provinces

 Basra-INA

 
Iraq have signed contracts with the foreign oil licensing companies to drill new oil wells and reclaim dozens of producing fields in Kirkuk, Baghdad, Basra, Maysan and Nasiriyah, as part of a long-term plan to increase oil production to eight million barrels per day by the end of 2027.
 
The director of the Iraqi Drilling Company at the Ministry of Oil, Basem Abdul Karim, said in a statement to "Al-Sabah" newspaper, which was followed by the Iraqi News Agency (INA), today, Sunday: "The company is in the process of signing a contract to drill 37 oil wells in Zubair oil field with the Italian company Eni, the main operator of the field in Basra province for a period of more than two years.
 
He pointed out that the Italian Eni recently delivered 14 oil wells and started drilling 3 new wells within a previous contract, bringing the total drilling contracts to about 54 wells in the giant field.
 
Abdul Karim revealed that "after the major competition among the foreign drilling companies to acquire a contract to drill 30 wells in the Rumaila field, west of Basra, the British petroleum company BP win the contract, stressing "the company's readiness to start drilling operations directly upon the announcement of getting the contract.
Abdul Karim continued that signing of a contract with the Chinese company CNOOC, the operator of the Bazargan field in Maysan, to drill 22 wells in partnership with the Chinese company Bohan, at a cost of up to 160 million dollars, affirming the complete of the discussions in this regard that lasted for two years due to the repercussions of Covid-19.
 
He also announced, "a preliminary agreement has been reached with the Chinese company CNOOC to reclaim 150 wells in the Bazarkan field in two phases. The first is 71 wells, and the second will be implemented later. While, In Dhi Qar, Abdul Karim explained that the company is currently implementing a plan to drill 20 wells in the Nassiriya field, with the participation of the American company Weatherford, which will enhance the strategy of escalating production and export capacity in the future by up to 60 thousand barrels per day, as the estimations referred that it contains about 4.4 billion barrels of raw oil.