Iraq signs deal to drill 96 oil wells in southern province of Basra

Iraq has signed a contract to drill 96 oil wells in the West Qurna-1 oil field located in the southern province of Basra to raise the production, according to a statement by the Ministry of Oil.

The state-run Basra Oil Company and the contractors for the West Qurna-1 oil field, ExxonMobil company and the US’ Schlumberger International, signed the contract on Thursday, reports xinhua news agency.

Minister of Oil Ihsan Abdul-Jabbar Ismail said during the signing ceremony that the contract “will increase oil production in the Qurna-1 oil field by 200,000 barrels per day (bpd) in the coming five years”.

Meanwhile, Deputy Minister of Oil Karim Hattab said the current production in West Qurna-1 is 380,000 bpd out of a pr