Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Associated Press August 18, 2010, 5:32PM ET

Halliburton gets letter of intent for Iraq oil

Halliburton Co. said on Wednesday that it has gotten a letter of intent from Shell Iraq Petroleum Development BV that would make Halliburton the project manager for developing the Majnoon field in southern Iraq.

Halliburton said it wold be working with Nabors Drilling and the Iraq Drilling Company. The contract needs final approval by Iraqi authorities, Halliburton said.

Iraq reached a deal with Shell in January to develop the mammoth oil field, along with partner Petronas, Malaysia's state-run oil company. Shell and Petronas plan to raise production in the field from the current 45,900 barrels per day to 1.8 million barrels per day over 10 years.

Halliburton shares rose 9 cents to close at $28.79 on Wednesday.


BW Mall - Sponsored Links

Buy a link now!