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IDC completes two Drilling Projects in Iraq

By John Lee.

The Iraqi Drilling Company (IDC) has recently completed the drilling of oil well 48 at the Nasiriyah oil field.

The company’s general manager, Engineer Basem Abdel Karim Nasser, said this was part of the contract with Dhi Qar Oil Company (DQOC) to drill 20 oil wells at the field in cooperation with US-based Weatherford.

Drilling operations were carried out over 18 months using the IDC 44 drilling rig.

IDC has also recently completed the drilling of oil well J120P in the Al-Gharraf field, which reached a depth of 3,037 meters.

Nasser said this was the thirteenth well drilled as part of the contract with the Malaysian Petronas company to drill 28 directional oil wells in the Al-Gharraf oil field in Dhi Qar Governorate.

The work was carried out using the IDC 54 drilling rig (pictured), which has a power of 2000 HP.

The company owns 43 drilling and reclamation rigs distributed in the Iraqi oil fields.

(Source: Ministry of Oil)

The post IDC completes two Drilling Projects in Iraq first appeared on Iraq Business News.

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IDC starts Drilling 20 Oil Wells at Nasiriyah

By John Lee.

The Iraqi Drilling Company (IDC) has started work on the first of its 20 oil wells at the Nasiriyah oil field in Dhi Qar.

IDC’s Director General, Basem Abdul Karim, said that the project is part of a contract with the Dhi Qar Oil Company (DQOC) in cooperation with Weatherford.

The planned depth of the well is 2,200 meters.

The project is to be completed within 18 months.

(Source: Ministry of Oil)

The post IDC starts Drilling 20 Oil Wells at Nasiriyah first appeared on Iraq Business News.

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Weatherford signs 18-Mth Deal in Iraq

Weatherford International has announced that it has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

Basim M. Khudair, General Director for IDC, said:

“Signing this contract between IDC and Weatherford is a great accomplishment for both parties. It sets the right ground for our mutual and constructive joint cooperation in the future.”

IDC will provide rigs, civil works and drilling services; Weatherford will provide project management and all other associated services. The operation will be performed with four rigs provided by IDC.

Frederico Justus, President, International Operations, Weatherford, noted:

“This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”

IDC is a leading Iraqi service company focusing on rig services and is a key player in the nationalization program for the country’s oil and gas sector.

(Source: Weatherford)

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China’s Zhongman wins $27m Iraqi Drilling Contract

By John Lee.

China’s Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly announced a new drilling contract with Weatherford in Southern Iraq.

Chinese media reports that the deal is worth approximately $27 million, and follows another contract with Weatherford in Iraq agreed in December.

The oil field was not identified.

(Source: Eastmoney)

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Weatherford Wins New Business in Iraq

Weatherford International plc (OTC-PINK:WFTIQ) has announced it has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a multinational operator in one of the world’s largest proven oil fields located in Iraq.

Frederico Justus, President of the Eastern Hemisphere for Weatherford, said:

“Weatherford has operated in Iraq since 2006, longer than any other multinational oilfield services provider.

“During that time, Weatherford proved to operators in Iraq that its capabilities across the life of the well reduce costs, enhance safety and maximize production efficiency.

“This experience gave the operator confidence in our ability to execute these turnkey drilling projects in one of their most strategic global locations.”

For the next two years, Weatherford will provide integrated services to drill development wells in one of Iraq’s most productive oil fields.

For the next five years, Weatherford will provide in-country support and specialized well services, including workshop services, fishing, milling, water shutoff and zonal isolation.

(Source: Weatherford)

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ADES Expands into Southern Iraq

By John Lee.

ADES International Holding Ltd., a London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa, is to expand into Southern Iraq.

The company will acquire two idle land rigs in Iraq from Weatherford, as part of a $287.5-million deal to buy 31 rigs from the Swiss-based company.

Commenting on the transaction, Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, said:

“We are truly delighted to have signed this agreement with Weatherford … [which] significantly expands ADES’ total fleet and more than doubles its operational fleet”

(Sources: ADES International Holding Ltd., Weatherford)