Halliburton to Drill Gas Wells in Western Iraq
Iraq's cabinet has approved a $2.785 billion drilling deal with Halliburton to develop a gas field in western Iraq.
The three-year deal between Iraq's state-owned Iraqi Drilling Company (IDC) and Halliburton will see the US oilfield services company drill 30 wells in the Akkas gas field.
The Akkas gas field is located in the western Anbar province of Iraq and is estimated to hold reserves of 5.6 trillion cubic feet of natural gas.
The deal is part of Iraq's efforts to boost its natural gas production and reduce its reliance on imported gas.
Iraq currently imports around 20% of its natural gas from Iran and is looking to increase its domestic production to meet growing demand.
The deal with Halliburton is the latest in a series of agreements that Iraq has signed with international oil and gas companies to develop its energy sector.
In recent years, Iraq has signed deals with BP, ExxonMobil, and Total to develop oil and gas fields in the country.
The Iraqi government is hoping that these deals will help to boost the country's economy and create jobs.
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