Two American company signs agreements to develop the Nahr Bin Omar and Sinbad fields with Basra Oil

Baghdad - INA

Basra Oil Company announced today, Saturday, the signing of two agreements with an American company to develop the Nahr Bin Omar and Sinbad fields.

The company's general manager, Basem Abdul Karim, said in a statement received by the Iraqi News Agency (INA): "The principles and confidentiality agreements were signed with the American company Halliburton to develop the Nahr Bin Omar and Sinbad fields."
Abdul Karim added that "the two agreements represent the basic way to start development and discussion operations and deliver all data and information related to the two fields, for the purpose of discussing these two fields and building the technical and economic model with the aim of reaching the development of the two fields in oil production and investment of associated gas."

Abdul Karim continued, "Discussions and studies will be presented in the development of the Nahr Bin Omar and Sinbad fields," indicating that "the production of the Nahr Bin Omar field is about 45 thousand barrels per day, and after development, it is hoped to reach 300 thousand barrels per day." For his part, Omar Al-Kashif, Director of Business Development at Halliburton, stressed - according to the statement - the "importance of this cooperation", noting that "the company will provide the latest digital and technological techniques to achieve sustainable production".

Al-Kashif pointed out that "the company's field visit to the Nahr Bin Omar field is planned, with a visit to the Sinbad field in the coming days, where development operations will be implemented according to specific stages with the aim of improving production efficiency".

In a related context, the Director of the Fields Authority and Head of the Negotiating Committee, Kazem Abdul Hassan Karim, stated that "the agreement paves the way for signing a contract to develop the two fields according to the (IFMS) model, where Basra Oil Company will remain the main operator, while Halliburton will assume the role of consultant in managing surface and subsurface projects".

Karim added that "the Nahr Bin Omar field is one of the geologically complex fields, but it is characterized by the presence of large quantities of high-quality natural gas, in addition to containing very light oils with a density of (50 API)."