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Halliburton Wins Shell Deal to Develop Majnoon, Aswat Says

By Nayla Razzouk – Nov 25, 2010 8:43 AM GMT+0000

Royal Dutch Shell Plc awarded a one- year contract to Halliburton Co. to help develop the Majnoon oilfield in southern Iraq, the Aswat al-Iraq website said.

Halliburton is due to set up operations for 15 new wells, according to an agreement signed Nov. 22, the report said.

Together with Petroliam Nasional Bhd of Malaysia, Shell won a 20-year service contract in 2009 to raise output from the Majnoon oil field to 1.8 million barrels a day, four times its current production.

Shell’s Chief Executive Officer Peter Voser said Oct. 12 that production from Majnoon had risen to 70,000 barrels a day.

Shell began demining operations in the region as part of a plan to raise production to 175,000 barrels a day in two years, Mounir Bouaziz, the company’s vice-president for the Middle East, said Sept 27.

As well as being the lead operator, Shell holds a 45 percent stake, leaving Petronas with 30 percent and the Iraqi state with a 25 percent interest in the license.

Majnoon, which straddles the Basra and Maysan provinces, has estimated crude reserves of about 12 billion barrels and 9.5 trillion cubic feet of gas.

To contact the editor responsible for this story: Stephen Voss on [email protected].

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