Multinational oilfield service company Weatherford International has secured a contract from the Iraqi Drilling Company (IDC) to provide project management services for the completion of twenty wells in the Al-Nasiriyah field in Iraq.
The field is located in the Dhi Qar province in the south of the country.
Weatherford noted that the contract is for a period of 18 months.
IDC general director Basim Khudair said: “Signing this contract between IDC and Weatherford is a great accomplishment for both parties. It sets the right ground for our mutual and constructive joint cooperation in the future.”
In order to conduct the operation, IDC will provide four rigs, civil works, as well as drilling services.
Under the contract, Weatherford will provide project management and other associated services.
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By GlobalDataAccording to Weatherford, the operation will be performed using four rigs provided by IDC.
Weatherford International Operations president Frederico Justus said: “This joint operation with IDC is an honour for Weatherford.
“Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”
IDC is an Iraqi firm focussed on rig services. It plays a major role in the ‘nationalisation programme’ for the oil and gas sector in the country.
In May last year, Weatherford signed an agreement with its top creditors, enabling the oilfield service company to file for Chapter 11 bankruptcy.
In March 2019, the company closed the $40m transaction to sell four contracted onshore drilling rigs to ADES International in Algeria.
In December 2018, Weatherford International agreed to sell its surface data logging business to oilfield services company Excellence Logging to reduce its debt.
