Baghdad – INA – Nassar Al-Hajj
The Ministry of Oil confirmed today, Friday, that the Council of Ministers’ decision to increase the financial authority of the Iraqi Drilling Company will create high flexibility, while revealing a plan to operate the equipment parked in the oil fields.
The Director General of the Iraqi Drilling Company, one of the ministry’s formations, Khaled Hamza Abbas, told the (INA): “The Council of Ministers decided to increase the financial authority of the Director General of the Iraqi Drilling Company to 30 billion dinars, in order to meet the drilling company’s need for maintenance of ancillary service equipment.” Drilling towers and their rehabilitation.
He pointed out that “this decision will create high flexibility, especially with regard to sustaining the activity of equipment working in the field of drilling and reclamation, and reduce downtime hours, and thus will reflect positively on the performance of the work, in addition to providing the requirements of field operators (licensed companies) and acceptable inspection certificates according to the standard.” drilling industry (API)”.
He added, “The company’s plan includes focusing at this stage on operating the stalled equipment in the oil fields, with 67 drilling wells and 146 reclamation wells.”
He expressed his “aspiration to develop capabilities in some works related to well services, in cooperation with partners from local and foreign companies.”