September 11, 2019

Iraqi Drilling Company to drill Nasiriyah oil field

The Iraqi Drilling Company (IDC) has signed a contract with the Dhi Qar Oil Company to drill 20 new oil wells in the Nasiriyah oil field for $128m.

By Jack Unwin

The Iraqi Drilling Company (IDC) has signed a contract with the Dhi Qar Oil Company to drill 20 new oil wells in the Nasiriyah oil field in Southern Iraq for a fee of $128m over two years. The deal was authorised by the Iraqi Ministry of Oil on 11 September.

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As part of the deal, IDC will develop the 20 new oil wells by building four new towers to increase oil production.

The creation of the 20 new wells will expand the Nasiriyah oilfields production by 40,000 barrels of crude oil, alongside investing in 20 million standard cubic feet of gas that will be used as fuel for power plants in Iraq.

As well as increasing oil and gas production, the expansion of the oil field will also increase work opportunities in the area.

Nasiriyah (also spelt Nassiriya) was ordered to be developed by state-run companies by the Iraqi government in July 2018 due to the “delay and failure” of international companies to work on the field.