Baker Hughes (BHI +5.5%) wins a $640M three-year contract to drill 60 wells in Iraq's southern...

|About: Baker Hughes Inc. (BHI)|By:, SA News Editor

Baker Hughes (BHI +5.5%) wins a $640M three-year contract to drill 60 wells in Iraq's southern Zubair oilfield. ENI (E +3%), Occidental (OXY +4.2%) and South Korea's KOGAS sign a 20-year deal to develop Zubair, which has an eventual output target of 1.2M barrels/day.