Iraq signs five-year oil field management contract with Halliburton

BAGHDAD, (UrduPoint / Pakistan Point News / WAM - 06th Jul, 2026) The Iraqi Ministry of Oil announced on Sunday that it has signed a five-year integrated management contract with the US energy services company Halliburton for the development of the Bin Umar and Sindbad oil fields in Basra governorate.

According to a ministry statement, the agreement was signed between the Basra Oil Company and Halliburton as part of the government's strategy and the directives of Prime Minister Ali al-Zaidi to expand Iraq's oil and gas production capacity.

Oil Minister Basim Mohammed Khudair al-Abadi, who attended the signing ceremony, said the agreement forms part of the ministry's broader strategy to increase both oil and associated gas production.

Under the contract, crude oil production at the Bin Umar field is expected to rise to 150,000 barrels per day over the next five years, while associated gas production is projected to reach 300 million standard cubic feet per day.

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The minister added that production at the Sindbad field will be increased to between 80,000 and 100,000 barrels per day. Associated gas output is also expected to rise from between 240 million and 260 million standard cubic feet per day, providing greater flexibility in gas supplies to Iraq's energy sector.

Al-Abadi said the ministry remains committed to concluding agreements with leading international energy companies, particularly US firms, and pledged continued government support to facilitate investment and achieve the country's energy objectives.

He also highlighted Halliburton's long-standing presence in Iraq, noting that the company has operated in the country since 2003.