Basra: Basra Oil Company has entered into a significant contract with the American corporation Halliburton for the integrated management of the Bin Omar and Sindbad oil fields. The Ministry of Oil announced this development as part of its strategy to expand the country's oil and gas production capacities.

According to National Iraqi News Agency, the contract, which was signed during a ceremony attended and sponsored by Minister Basim Mohammed Khudair, spans a period of five years. The agreement aims to boost crude oil production at the Bin Omar field to 150,000 barrels per day and enhance the output of associated gas to 300 million standard cubic feet per day.

Additionally, the contract outlines plans to increase the production rates in the Sindbad field to between 80,000 and 100,000 barrels per day. The associated gas capacity in the Sindbad field is expected to rise from 240 to 260 million standard cubic feet per day, providing crucial flexibility for the country's energy sector.

Minister Khudair emphasized the Ministry's commitment to forming partnerships with major international firms, particularly American companies. He assured that support would be given to overcome obstacles and achieve both the Ministry's objectives and the public interest. Halliburton, with its established operations in Iraq since 2003, was noted for its reputable standing in the industry.