Weatherford International : Awarded Multiyear Deals Will Drill Development Wells, Provide Well Services For Multinational Operator In Iraq
October 08, 2019 at 04:31 pm EDT
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NEWS RELEASE
Weatherford Awarded Multiyear Deals,
Will Drill Development Wells, Provide Well Services
For Multinational Operator In Iraq
Integrated Rig Contracts Headline Agreements
With Iraq's Longest Tenured Oilfield Services Provider
HOUSTON, October 8, 2019 - Weatherford International plc (OTC-PINK:WFTIQ) announced it has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a multinational operator in one of the world's largest proven oil fields located in Iraq.
"Weatherford has operated in Iraq since 2006, longer than any other multinational oilfield services provider," said Frederico Justus, President of the Eastern Hemisphere for Weatherford. "During that time, Weatherford proved to operators in Iraq that its capabilities across the life of the well reduce costs, enhance safety and maximize production efficiency. This experience gave the operator confidence in our ability to execute these turnkey drilling projects in one of their most strategic global locations."
For the next two years, Weatherford will provide integrated services to drill development wells in one of Iraq's most productive oil fields. For the next five years, Weatherford will provide in- country support and specialized well services, including workshop services, fishing, milling, water shutoff and zonal isolation.
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About Weatherford
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in more than 80 countries and has a network of 620 locations, including manufacturing, service, research and development, and training facilities and employs more than 24,500 people. For more information, visit www.weatherford.comand connect with Weatherford on LinkedIn, Facebook, Twitterand YouTube.
Contact:
Christoph Bausch
+1.713.836.4615
Executive Vice President and Chief Financial Officer
Karen David-Green
+1.713.836.7430
Senior Vice President Stakeholder Engagement and Chief Marketing Officer
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Weatherford International Ltd. published this content on 08 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2019 20:30:07 UTC
Weatherford International plc is a global energy services company. It provides equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. It operates through three segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI). DRE offers a suite of services, including managed pressure drilling, drilling services, wireline, and drilling fluids. WCC offers products and services for well integrity assurance across the full life cycle of the well. It offers tubular running services, cementation products, completions, liner hangers, and well services. PRI offers production optimization technologies. Its offerings are intervention services and drilling tools, artificial lift, digital solutions, sub-sea intervention, and pressure pumping services.