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Friday, August 20, 2010     GET REAL

Halliburton contracted to develop Iraqi oil field, one of world's largest

WASHINGTON — A U.S. major has won an energy contract in Iraq.

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The U.S. firm Halliburton has been awarded a contract to drill 15 crude oil wells in southern Iraq. Halliburton was awarded the contract by Royal Dutch Shell and Malaysia's Petronas to develop the Majnoun field over the next two years.

Majnoun has been identified as one of the largest oil fields in the world.

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In 2010, Shell and Petronas were awarded the project by the Iraqi Oil Ministry to increase Majnoun's crude production from 45,000 to 1.8 million barrels per day, Middle East Newsline reported.

The Oil Ministry has sought to increase overall Iraqi production from the current three million to 12 million barrels per day by 2018. The ministry has awarded contracts to such majors as Shell and BP.

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