Baker Hughes scoops $640m Zubair drilling deal
US service giant to drill 23 wells at 4 billion barrel field
Baker Hughes has been awarded a three-year contract valued at $640 million to drill 60 wells in Iraq's 4 billion barrel Zubair oilfield, Iraqi government spokesman Ali al-Dabbagh said today, according to a Reuters report.
Baker Hughes already manages and operates drilling and workover rigs at Zubair.
Eni, Occidental and KOGAS have the $20 billion, 20-year technical services contract to develop production at Zubair, which is slated to produce 1.2 million barrels per day. The corsortium will receive $2 for every barrel lifted once production targets are met. Eni operates the Zubair field under the contract, which was signed in 2010.
Baker Hughes already has a major drilling program underway at West Qurna 2, after winning a 23-well contract from the operator Lukoil in August this year.