{"id":421215,"date":"2021-06-18T17:00:07","date_gmt":"2021-06-18T11:30:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=421215"},"modified":"2021-06-18T17:00:07","modified_gmt":"2021-06-18T11:30:07","slug":"iraq-signs-deal-to-drill-96-oil-wells","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/iraq-signs-deal-to-drill-96-oil-wells\/","title":{"rendered":"Iraq signs deal to drill 96 oil wells"},"content":{"rendered":"<p>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.<\/p>\n<p>The state-run Basra Oil Company and the contractors for the West Qurna-1 oil field, ExxonMobil company and the US&#8217; Schlumberger International, signed the contract on Thursday, reports xinhua news agency.<\/p>\n<p>Minister of Oil Ihsan Abdul-Jabbar Ismail said during the signing ceremony that the contract &#8220;will increase oil production in the Qurna-1 oil field by 200,000 barrels per day (bpd) in the coming five years&#8221;.<\/p>\n<p>Meanwhile, Deputy Minister of Oil Karim Hattab said the current production in West Qurna-1 is 380,000 bpd out of a production capacity exceeding 500,000 bpd.<\/p>\n<p>The oil field also produces around 150 million cubic feet of associated gas on a daily basis, he added.<\/p>\n<p>Iraq&#8217;s West Qurna-1 oil field, which holds more than 20 billion barrels of expected recoverable reserves, is among the largest in the world.<\/p>\n<p>Iraq&#8217;s economy heavily relies on crude oil export, which accounts for more than 90 per cent of the country&#8217;s revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217; 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 &#8220;will increase oil production in the Qurna-1 oil field by 200,000 barrels per day (bpd) in the coming five years&#8221;. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-421215","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=421215"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421215\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=421215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=421215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=421215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}