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March 31, 2010

BP Awards Major Rumaila Deals

BP said it has awarded $500m in contracts to drill wells in Iraq's giant Rumaila oil field. Three contractor groups were selected, including Schlumberger in partnership with the Iraqi Drilling Company for three rigs, Daqing Drilling for another three rigs and Weatherford for one rig.

By cms admin

BP said it has awarded $500m in contracts to drill wells in Iraq’s giant Rumaila oil field.

Three contractor groups were selected, including Schlumberger in partnership with the Iraqi Drilling Company for three rigs, Daqing Drilling for another three rigs and Weatherford for one rig.

In addition, two contracts worth $100m have been awarded to Centrilift and Al-Khorayef Petroleum for the supply and installation of electrical submersible pumps and associated services.

In another contract, Cameron will supply associated trees and wellheads.

Iraq has an estimated 115 billion barrels of crude-oil reserves, which are currently valued at $9.5 trillion.

Iraqi officials are planning to add ten million barrels a day of oil production capacity by 2017.

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