Halliburton wins Iraq contract to develop Bin Umar and Sindbad oil fields

Baghdad (IraqiNews.com) – Halliburton has signed a deal with Iraq’s Basra Oil Company (BOC) to assist in the development of the Bin Umar and Sindbad oil and gas fields in southern Iraq, bolstering Baghdad’s efforts to increase crude output and decrease dependency on imported natural gas. According to the deal, Halliburton will offer integrated field management services, as well as engineering, procurement, and construction management for the two fields. The project involves field development planning, production optimization, digital technologies, and project management, all with the goal of speeding development and enhancing operational efficiency. Halliburton announced that it will use its Landmark digital platform to integrate subsurface data, drilling, production operations, and business planning. According to BOC, the initial five-year phase of the Bin Umar expansion could enhance oil output to over 150,000 barrels per day and collect around 300 million standard cubic feet of associated gas, which would be utilized to help fulfill Iraq’s domestic energy demands. The project is part of Iraq’s wider aim to increase oil production while capturing associated gas that is now burned, decreasing reliance on gas imports to run the country’s power sector and boosting energy security. BOC will own and operate both fields, while Halliburton will provide technical expertise and project management in collaboration with the state-owned company. Halliburton also stated that it intends to collaborate with local resources to support workforce development and national value creation initiatives within Iraq’s Ministry of Oil. The award is the most recent in a string of energy investments announced by Iraq as it attempts to modernize its oil and gas industry, boost production capacity, and recruit foreign expertise to utilize its huge hydrocarbon resources while enhancing the usage of associated gas.