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.
# # #
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.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.
Executive Vice President and Chief Financial Officer
Senior Vice President Stakeholder Engagement and Chief Marketing Officer