Iraq Drilling Company to Ramp up Production

29 November 2009 (Last Updated November 29th, 2009 18:30)

The Iraq Drilling Company said it will drill 180 oil wells next year, which will increase Iraq's production capacity by 360,000bpd. Iraqi Drilling Company director Idrees al-Yassiri told Reuters that the number of new oil wells will surpass the total number of wells drilled over six-an

The Iraq Drilling Company said it will drill 180 oil wells next year, which will increase Iraq's production capacity by 360,000bpd.

Iraqi Drilling Company director Idrees al-Yassiri told Reuters that the number of new oil wells will surpass the total number of wells drilled over six-and-a-half years since the US invasion.

The state-run company also plans to drill over 250 wells a year from 2011 onwards. Nearly 50% of drilling towers have already become operational, while the remaining will be put to work next year, according to the state-run oil company.

Yassiri said the company will carry out drilling work in 22 wells in an oilfield adjoining Kuwait, to avert 'leakage' across the border. Iraq is currently in negotiations with Kuwait and Iran regarding shared oilfields.