US oil giant company ExxonMobil Corporation has signed a contract with the state-run Iraqi Drilling Company to drill 20 oil wells in the West Qurna-1 oil field in Basra, in southern Iraq.
On the sidelines of the signing ceremony here on Wednesday, Idris Mohsen Al-Yasseri, director-general of the Iraqi Drilling Company, said that the project is scheduled to be completed within 24 months and cost up to USD 100 million.
According to Al-Yasseri, the Iraqi company has also signed a deal with oil services company Shlngber to offer services associated with drilling requirements such as operating and miscellaneous services.
ExxonMobil has previously won a contract bid for the development service of the West Qurna-1 oil field at a cost of USD 1.9 million per extra barrel.
May 3
KUNA
