Latest news with #IraqiDrillingCompany
Shafaq News
03-07-2025
- Business
- Shafaq News
Iraq's drilling success: 113 new oil wells completed in H1 2025
Shafaq News - Baghdad On Thursday, Iraq's Ministry of Oil reported that the Iraqi Drilling Company completed drilling and rehabilitating 113 oil wells during the first half of 2025. In a statement, the Ministry noted that company crews drilled 27 new wells and rehabilitated 86 during this period, in line with efforts to raise production levels and improve the efficiency of oil fields. Hassan Mohammed Hassan, the company's director general, underscored the continued commitment of national staff to maintain high performance despite field challenges, pointing to the company's emphasis on developing workforce capabilities while also ensuring a safe and integrated work environment that supports timely project delivery. The oil sector remains the cornerstone of Iraq's economy, generating approximately 127.5 trillion Iraqi dinars (around $90 billion) in revenues during 2024—accounting for over 91% of federal income and nearly 88% of total state revenue.
Iraq Business
18-06-2025
- Business
- Iraq Business
IDC Advances 15-Well Project in North Rumaila
By John Lee. The Iraqi Drilling Company (IDC) is making steady progress on its project to drill 15 oil wells in the North Rumaila field, working in coordination with Halliburton and Basra Energy Company Limited (BECL). During a site visit to rig IDC 59, Khalid Abbas Ali, Head of the First Drilling and Workover Department, explained that well R-839 is the first to be drilled under this contract for Halliburton, which operates under a day-rate system in the BECL-operated field. Drilling operations began on 26 May 2025, targeting the Mishrif formation. The planned depth is 2,551 metres, with the current depth at 2,048 metres. Preparations are under way to install 9 casing. Halliburton is employing advanced drilling technologies and high-efficiency fluids to improve speed and performance, aiming to complete drilling in 19 days and full well completion by 30 June 2025. Laith Qasim, Rig Manager of IDC 59, praised the performance of the 2,000 HP rig and the strong team spirit across all crews. (Source: Iraqi Drilling Company)
Iraqi News
02-06-2025
- Business
- Iraqi News
Oil Ministry Announces Drilling and Rehabilitation of 18 Oil Wells in May
The Iraqi Drilling Company, affiliated with the Ministry of Oil, announced on Monday the completion of drilling and rehabilitating 18 oil wells during the month of May. According to a statement from the company's media office, obtained by the Iraqi News Agency (INA), 'In line with the directives of Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani Sawad, and under the direct supervision of the Deputy Minister for Extraction Affairs, the technical and engineering teams of the Iraqi Drilling Company completed the drilling and rehabilitation of 18 oil wells during May, as part of the company's operational plans to boost national production capacity across various Iraqi oil fields.' The company's Director General, Hassan Mohammed Hassan, stated, as quoted in the statement, that 'the specialized teams succeeded in drilling 6 new oil wells and rehabilitating 12 others, distributed across oil fields from the north to the south of the country, in favor of national extraction companies, in addition to contracts with several international companies operating in Iraq.' He added that 'these achievements reflect the company's efficiency and its ability to execute technical tasks according to scheduled timelines, contributing to the Ministry of Oil's efforts to increase production and enhance operational performance in the fields.'
Iraqi News
04-03-2025
- Business
- Iraqi News
15 oil wells were drilled and recovered in the previous month
The Iraqi Drilling Company announced on Tuesday the completion of drilling and reclamation of 15 oil wells during the month of February. 'The Iraqi Drilling Company completed the drilling and reclamation of 15 oil wells in Iraqi oil fields during the month of February, as part of its ambitious plans to enhance production capabilities and support the development of oil fields,' the company said in a statement obtained by the Iraqi News Agency (INA). According to the statement, the deputy director general of the company, Kadhem Habash Khalif, explained that 'the technical and engineering staff completed the drilling of two oil wells, in addition to the reclamation of 13 wells, distributed over a number of oil fields for the benefit of national companies and international licensing companies operating in Iraq.' 'This achievement reflects the high efficiency of the company's staff and its ability to carry out works according to the specified timelines and high technical standards,' Khalif said, noting that 'the Iraqi Drilling Company continues to implement its strategic plans to increase the pace of achievement and enhance its role in supporting the national economy through the development of the oil extraction sector in Iraq.'
Iraqi News
16-02-2025
- Business
- Iraqi News
Iraq starts drilling 18 oil wells in the East Baghdad field
Baghdad ( – As part of a plan to drill 18 oil wells in the southern part of the East Baghdad field, the state-owned Iraqi Drilling Company (IDC) announced on Thursday that drilling had begun in the first well. The Iraqi Ministry of Oil said in a statement that the step is part of the ministry's strategic goals and collaborative efforts with the Chinese company EBS to support and develop the country's oil sector. With the company's dedication to implementing the highest quality and safety standards, the initiative aims to improve oil production and expand oil fields, which supports Iraq's national economy. An enormous discovery just raised the reserves of the East Baghdad field, one of Iraq's most significant oil resources, to 15 billion barrels. This discovery enhances Iraq's position as one of the world's top oil producers and creates new avenues for output expansion and revenue generation. In collaboration with the Chinese oil company EBS, Iraq's Midland Oil Company (MOD) said on January 20 that two billion more barrels had been found in the oil field. Given that this discovery represents the largest expansion in central Iraq's crude oil reserves in decades, the energy industry is paying close attention to it. A lot of study is being done to develop strategies to maximize productivity and use this important resource. This finding raises the overall reserves of the East Baghdad field to 15 billion barrels, up from 13 billion barrels before the latest discovery, according to Mohammed Yassin Hassan, director general of the state-run MOC. According to Attaqa News, the discovery is a major step that supports the Iraqi oil sector and increases national income because it is the largest in central Iraq. According to development operations supervisor Haider Qais Mahmoud, the field's proven reserves were around 7.5 billion barrels when the development contract was signed with EBS in 2018. However, exploration and evaluation operations raised this amount to 15 billion barrels. The finding enhances the country's production capacity while supporting its vital position in the global energy market.
