Iraq signed a five-year agreement with U.S. oilfield services company Halliburton to manage and develop the Bin Umar and Sindbad oil and gas fields in the southern province of Basra, advancing the government’s strategy to expand hydrocarbon production and strengthen fuel supplies for the domestic power sector.
In the first half of this year, Weatherford’s revenues from its Russian operations rose to 7% of the total $2.4 billion, from 5% of the total for the first six months of 2024, the report said, noting the oilfield service provider generated some $332 million in cash and assets in Russia as of end-June this year. That was up from $233 million a year earlier.