Halliburton wins Iraq contract for two oil and gas fields

Halliburton (NYSE: HAL) has been awarded a contract by Basra Oil Company (BOC) to provide integrated field management and engineering, procurement, and construction management services for the Bin Umar and Sindbad oil and gas fields in southern Iraq.

The contract scope includes field development planning, production optimization, digital solutions, and construction management services for the two fields. Halliburton will deploy its Landmark software portfolio to connect subsurface data, well delivery, production operations, and business planning.

BOC estimates oil production from the Bin Umar field could reach approximately 150,000 barrels per day during the first five-year development phase, along with 300 million standard cubic feet of associated gas. The development program is also designed to expand the capture and use of associated gas for domestic supply.

Zaid Khadra, vice president for Middle East North Africa at Halliburton, said the company will work alongside BOC "as a technical and project management provider to integrate workflows, digital solutions, and execution expertise to maximize asset value."

BOC will retain ownership, operatorship, and decision-making authority over the assets. Halliburton plans to work with local resources in coordination with Iraq's Ministry of Oil on workforce development. The financial terms of the contract were not disclosed.

You May Also Be Interested In

• Alphabet Sees FY26 Capex $195B To $205B, Saw $180B To $190B
• Halliburton (HAL) PT Lowered to $53 at Barclays
• NovaGold to reincorporate in Delaware via arrangement with Paulson