State-owned Company holds 70 contracts with foreign investment companies

BASRA / IraqiNews.com: The State-owned Iraqi Excavation Company has held contracts with about 70 foreign investment companies over the past few months, the Company’s Operations Director reported on Monday. “We have concluded a contract with the Italian Company ENI for US$240 millions, along with a contract with Halliburton to dig 23 oil wells and repair 67 other wells,” Mohammed al-Rubei told IraqiNews.com news agency. Rubei said that his Company had also signed a contract with Exon-Mobile west of southern Iraq’s Qurna oil fields, to dig 20 wells, and another contract with the British Baby, working in southern Iraq’s Rumeila Oil fields, to dig 21 oil wells, along with a contract with Shelinger Company, which was achieved in 28 days, whilst the decided period was 80 days. “We have also signed 2 contracts with Lock-Oil, working in West Qurna to repair 3 wells, whilst we plan to score a contract for 5 more wells with Baker-Johns Comp[any, along with a contract with Sun-Sigol Company, to dig 8 wells,” Rubei said. In conclusion, Rubei said, “We are in a competition nowadays with several international companies, working on worldwide levels, with who we differed in the beginning, because they work under high-level standards.” SKH (TP)/SR494