The Zaidi government grants oil extraction contracts to American companies
The Zaidi government grants oil extraction contracts to American companies
6-30-2026
Information/Translation…
Baghdad continues its efforts to award contracts to international oil companies to boost oil production and revenues. The Iraqi government has approved contracts for Halliburton, the services provider, to develop two oil fields in the south of the country, about a year and a half after the American company signed a preliminary agreement for the projects.
A report by Upstream, translated by the Information Agency, stated that “the Iraqi Council of Ministers approved awarding integrated field management contracts and engineering, procurement, and construction management contracts to Halliburton Iraq, its subsidiary, to develop the Nahr Bin Omar and Sindbad oil fields.”
The report explained that “the contract with Halliburton is for five years, with the possibility of extending it for an additional three years. The Bahrain Petroleum Company and the Ministry of Oil will pay Halliburton for work actually completed, confirming that public funds will be disbursed for completed and documented work, not as advance or guaranteed payments.”
The Nahr Bin Omar field, discovered in 1948, was projected to produce around 50,000 barrels per day of extra-light crude oil in 2025. However, contracts with Halliburton are expected to help the oil company increase production to approximately 300,000 barrels per day. The Sindbad field, discovered in the 1970s, lies adjacent to Nahr Bin Omar but has not been fully exploited. While Iraqi authorities estimate Nahr Bin Omar’s reserves at over 6.5 billion barrels of oil, they have not disclosed estimates for Sindbad, although it is generally considered a smaller field.
It should be noted that Halliburton is the parent company of KBR, the security firm owned by former US Vice President Dick Cheney, which was responsible for the toxic waste incineration pits during the US invasion of Iraq.
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