Negotiations with an American company for Nahr Bin Omar's oil development

Economy

5-03-2025, 17:23

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Baghdad - INA

The Ministry of Oil announced today, Wednesday, the existence of negotiations with the American company Halliburton to develop the Nahr Bin Omar field in Basra.

The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khader, told the Iraqi News Agency (INA): "The Nahr Bin Omar field is an oil and gas field, as the gas contract was signed and the contracting company began its work."

He pointed out that "there are negotiations with the American company Halliburton to develop the oil side of the field, in line with the gas investment project in Nahr Bin Omar."

He explained that "the gas project aims to produce about 300 million standard cubic feet per day, in two phases," stressing that "the establishment of gas facilities requires a long time, and the minimum period for their establishment and operation is estimated at about three years."