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Reuters: Halliburton to drill wells for Shell in Iraq's Majnoon oil field

Jan. 19, 2017 8:41 AM ETShell plc (SHEL) StockHAL, SHELBy: Carl Surran, SA News Editor5 Comments
  • 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.

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