- Royal Dutch Shell (RDS.A, RDS.B) has signed a $210M contract with Halliburton (NYSE:HAL) to drill 30 wells in Iraq's Majnoon oil field, Reuters reports.
- The agreement reportedly would nearly double Majnoon's output to ~400K bbl/day in three years, from 220K bbl/day currently.
- Shell is the operator of Majnoon, one of the world's richest oil fields with an estimated 38B barrels of oil in place.