Basra Oil Company Partners with Halliburton for Field Development
The Basra Oil Company has officially announced the signing of two significant agreements with American firm Halliburton to advance the development of the Bin Omar and Sinbad River oil fields. Bassem Abdel Karim, the company’s general manager, emphasized the importance of these agreements, which focus on the principles of collaboration and confidentiality with Halliburton.
According to Abdel Karim, the agreements mark a foundational step toward initiating development activities. They will facilitate the comprehensive exchange of data and information pertaining to both fields, enabling detailed discussions and the construction of technical and economic models aimed at enhancing oil production and optimizing the associated gas investments.
Abdel Karim further noted that current production levels at the Bin Omar field are approximately 45,000 barrels per day. However, following the development efforts, projections suggest that this figure could rise to as much as 300,000 barrels per day.
Omar Al-Kashef, Halliburton’s Director of Business Development, underscored the significance of this collaboration, stating that the company is committed to introducing cutting-edge digital technologies to foster sustainable production. He also mentioned that a visit to the Bin Omar field has already taken place, with plans to inspect the Sinbad field shortly. Development operations will be conducted in a phased manner, with the objective of enhancing production efficiency.
In a related discussion, Kazem Abdel Hassan Karim, head of the negotiating committee, highlighted that the agreement lays the groundwork for a formal development contract based on the Integrated Field Management Services (IFMS) model. Under this framework, the Basra Oil Company will maintain its role as the principal operator while Halliburton will serve as the consulting body for surface and subsurface project management.
The Bin Omar field, recognized for its geological complexity, also features substantial reserves of high-quality natural gas and lighter crude oil, with an API gravity reaching 50.
This partnership illustrates a strategic step towards boosting oil production capabilities in the region while leveraging advanced technological solutions for sustainable operations.