Iraq's Basra Oil Co and Iraq Drilling Co signed an agreement to drill 40 wells at the Majnoon oil field, the Iraq’s Oil Ministry said.
The deal will help boost output from the Majnoon oilfield to 450,000 barrels per day (bpd) in 2021, the ministry said in a statement.
The agreement was signed between Oil Minister Thamer Abbas Ghadhban, director general of Basra Oil Ihsan Abdul Jabbaran and director general of Iraq Drilling Co Mohammed Khudair.
The new wells are in addition to the 40 that Iraq and Schlumberger agreed in December to drill in Majnoon.
Separately, Iraq signed a contract with China’s CNOOC to conduct a seismic survey for two oil exploration blocks.
Under the deal, the seismic survey will include one offshore block in the Persian Gulf and another near the border with Iran, the oil ministry said.