Halliburton has secured an integrated management contract from Iraq's Basra Oil Company to develop the Bin Umar and Sindbad oil fields. Under the agreement, Bin Umar is expected to increase crude oil production to 150,000 barrels per day and associated gas production to 300 million standard cubic feet per day, while Sindbad is targeted to reach between 80,000 and 100,000 barrels per day of crude and 240 to 260 million standard cubic feet per day of associated gas. The contract covers engineering, drilling, production optimization, reservoir management, and operational planning under a unified framework. The project supports Iraq's strategy to maximize existing field potential and strengthen its position as a leading oil producer.
Halliburton CompanySecured integrated management contract to develop two oil fields in Iraq, boosting production services demand.
ARKO Petroleum Corp.
Cenovus Energy IncAs the contracting party, Basra Oil Company benefits from Halliburton's services to boost field output.