Iraq Approves $156.74M Drilling Deal for West Qurna 2 Oilfield

Iraq has approved a $165.74 million drilling deal with China’s Bohai Drilling Engineering Co. for the West Qurna Two oilfield, two Iraqi oil officials said.

Under the 24-month contract, Bohai would drill 28 production oil wells at West Qurna Two, operated by Russia’s Lukoil, a deadline at the end of 2020 for completion, the officials said.

Production at West Qurna Two is now about 400,000 barrels per day (bpd), according to an oil official with knowledge of the field’s output operations.