Twilight News

Iraq ‘s economy digs 40 oil wells in the south

The Deputy Prime Minister for Energy Affairs and Minister of Oil Thamer Abbas Al-Ghadhban, the Ministry’s keenness to continue to implement its plans to develop the field of Majnoon oil by the national effort.

This came during the signing ceremony of the first two contracts to dig 40 oil wells in the field between the Basra Oil Company and Schlumberger, and the second signing of the contract for the implementation of seismic survey three dimensions and two dimensions of the field between Basra Petroleum Company and oil exploration company.

Al-Ghadhban said in a speech on the sidelines of the signing of the contract that “the field of Majnoon from the giant fields to have significant production potential and the signing of the two contracts comes to promote production rates in the field, as well as the technical management of the field of national effort after Shell withdrew from the implementation of its obligations to develop the field” “He explained that” drilling 40 wells will increase production rates in the field, which in turn will provide additional financial revenue to the state treasury. ”

He added that “the implementation of the seismic surveys of a crazy field by the oil exploration company in a three-dimensional manner will provide accurate information to the Basra Oil Company and will enable them to promote production in the field and increase production capacities and extract oil with the best technology and modern technology with a purely national effort.”

“The contract signed with the Basra Oil Company is one of the major contracts executed by the company with its national capabilities, “Adding that” the duration of the implementation of the contract 19 months, stressing that the availability of field capabilities, technical and laboratory company has been able to implement many of the contracts with licensing companies in Iraq.”

The Majnoon field is one of the giant oil fields in Iraq and the current production capacity is more than 240 thousand barrels per day. The Ministry of Oil announced the development of the field of national effort after Shell withdrew from the implementation of the field development contract won by the licensing rounds. Source