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Baker Hughes scoops USD640m Zubair drilling deal

December 23/2011

(Arabian oil and gas) -- Baker Hughes will drill 60 wells in three years, according to a government source. Baker Hughes has been awarded a three-year contract valued at USD640 million to drill 60 wells in Iraq's 4 billion barrel Zubair oilfield, Iraqi government spokesman Ali al-Dabbagh said today, according to a Reuters report. Baker Hughes already manages and operates drilling and workover rigs at Zubair.

Baker Hughes scoops USD640m Zubair drilling deal

Eni, Occidental and KOGAS have the USD20 billion, 20-year technical services contract to develop production at Zubair, which is slated to produce 1.2 million barrels per day. The corsortium will receive USD2 for every barrel lifted once production targets are met. Eni operates the Zubair field under the contract, which was signed in 2010.

Baker Hughes already has a major drilling program underway at West Qurna 2, after winning a 23-well contract from the operator Lukoil in August this year.

Author:Marina Ivanova
Category:General News
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