By John Lee.
Basra Oil Company (BOC) has signed two contracts for new drilling at the giant Majnoon oil field.
China’s Hilong Oil Service & Engineering Company is to drill 80 oil wells at a cost of $54 million, while the Iraqi Drilling Company (IDC) will drill 43 oil wells at a cost of $255 million.
Oil Minister Thamir al-Ghadhban said the contracts are part of BOC’s plan to increase the production at Majnoon to 400,000 barrels per day by 2022.
(Source: Iraqi Ministry of Oil)