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Iraq Signs Deal with Oil Services Giant Halliburton
The contract could lift combined output by 250,000 barrels per day and increase associated gas production over five years, the ministry said.
- On Sunday, Iraq's Basra Oil Company signed a joint management contract with Halliburton for the Bin Omar and Sindbad oilfields, aiming to boost combined production by up to 250,000 barrels per day over five years.
- Oil Minister Bassim Mohammed Khudair said the deal aligns with the "ministry's strategy to increase oil and gas production capacity," targeting six million bpd by 2028 as Iraq seeks to revive its economy.
- Production at Bin Omar is expected to rise by 150,000 barrels per day, while Sindbad output increases by 80,000 to 100,000 bpd; the ministry added the additional gas "will provide great flexibility in providing gas to the country's energy sector."
- The United States has encouraged this shift, viewing American commercial presence as a way of reducing Iraq's dependence on Iran; Halliburton's return signals renewed confidence in upstream plans after scaling back operations.
- Prime Minister Ali has made energy self-sufficiency a priority, aiming to cut dependence on imports while strengthening ties with the United States ahead of his upcoming visit to Washington later this month.
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The Iraqi government and the American company Halliburton, a giant oil industry services company, signed an agreement on Sunday.
·Montreal, Canada
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On 5 July 2026, the signing of the joint operating agreement between Basra Oil Company and Halliburton for the Bin Omar and Sinbad oil fields marks a major technical turning point: an additional 230,000 to 250,000 barrels per day in five years, equivalent to 6% of the current Iraqi production. Announced by the Iraqi Oil Ministry, this partnership comes on the same day that Baghdad raises its quotas within OPEC+, signaling a coordinated strategy …
Coverage Details
Total News Sources13
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
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