| Iraq invites 15 firms to drill 50 wells in southern fields |
| in-en.com 2007-6-15 14:27:03 |
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In an official statement, the Iraqi Oil Ministry said that it has invited 15 international oil companies to drill 50 new oil wells in fields within the southern part of the country. The goal is to raise oil output 70,000 bpd. ¡°The Oil Ministry has instructed the South Oil Company to invite 15 specialized and well known international oil companies to take part in a tender to drill some 50 wells in Maysan province,¡± said the statement. A two-month period has been set aside by South Oil to receive bids from those firms. The plan calls for drilling 50 wells in the Fakka, Bazerkan, Abu Ghareb, Halfaya and Amarah oil fields. As part of the deal, the winning companies will drill the wells in return for an undisclosed but specific amount of money. The wells must be completed and ready for operation by South Oil within six to seven months after work begins. The ministry also disclosed that it plans to drill another 50 wells in Basra province of southern Iraq. Iraq has struggled to maintain its oil exports, which are languishing at about 1.5 million bpd.
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| Author:World Oil From:World Oil Edit:nicole |
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