Under the contract, Halliburton will provide on-site logistics and technical support for both rigless and rig-assisted workovers, a procedure used to increase production from existing wells in Iraq’s West Qurna Phase One field.
A spokeswoman for Halliburton declined to provide additional details.
Exxon and its partner Royal Dutch Shell Plc (RDSa.L) plan to more than double the number of new wells in West Qurna Phase One to reach its projected production target, an Exxon executive said last month.
Exxon aims to drill two to three times the current 370 wells in the field as part of its development plan for West Qurna to reach plateau output of 2.325 million barrels per day, James Adams, Exxon’s Iraq vice president, said.
Shares of Halliburton were unchanged at $35.63 in morning trading on the New York Stock Exchange. (Reporting by Anna Driver, editing by Gerald E. McCormick)