- HOUSTON: Russian oil company LUKOIL awarded US oilfield services firm Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq.
Some of the wells will be drilled directionally, Baker Hughes said, targeting the Mishrif formation, with step-outs of up to 3,000 meters. The wells are closely spaced, so the operation will employ a cluster drilling technique.
A spokeswoman from Baker Hughes was not immediately available to comment on the contract’s value.
Last year Baker Hughes opened an operations base in Basra, Iraq, and the company also provides work in the Zubair field.
Shares of Houston-based Baker Hughes fell 8.3 percent, or $5.35 to $59.19 in afternoon New York Stock Exchange trading, as stocks fell broadly around the world.