Prime Highlights
- Iraq signs a five-year deal with Halliburton to develop the Bin Umar and Sindbad oil fields.
- Bin Umar’s crude output is set to rise to 150,000 barrels per day within five years.
Key Facts
- Halliburton is a US energy services company that has operated in Iraq since 2003.
- Sindbad field production is expected to reach between 80,000 and 100,000 barrels per day.
Background
The Iraqi Ministry of Oil has signed a five-year integrated management contract with US energy services company Halliburton for the development of the Bin Umar and Sindbad oil fields in Basra governorate. The agreement was signed between the Basra Oil Company and Halliburton as part of the government’s strategy to expand Iraq’s oil and gas production capacity, in line with directives from Prime Minister Ali Al-Zaidi.
Oil Minister Basim Mohammed Khudair Al-Abadi, who attended the signing ceremony, said the agreement forms part of the ministry’s broader plan to raise both oil and associated gas production.
Under the contract, crude oil production at the Bin Umar field is expected to rise to 150,000 barrels per day over the next five years, while associated gas production of 300 million standard cubic feet per day is anticipated. Production at the Sindbad field will be increased to between 80,000 and 100,000 barrels per day, with associated gas output rising to between 240 million and 260 million standard cubic feet per day, giving greater flexibility to Iraq’s energy sector.
Al-Abadi said the ministry remains committed to signing agreements with leading international energy firms, particularly those from the United States, and pledged continued government support to facilitate investment and meet the country’s energy goals. He also pointed to Halliburton’s long presence in Iraq, noting that the company has operated there since 2003.
