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Iraq: US company wins $224M oil contract

BAGHDAD: An Iraqi oil official says U.S. oilfield services company Weatherford International Ltd., has won a $224.4-million contract to drill in southern Iraq.The official with the state-run Maysan Oil Co. said Wednesday the Houston-based company has 24 months to drill 20 wells in the southern Buzurgan oil field in Maysan province.The official, speaking on condition of anonymity because he was not authorized to comment, said the wells will boost current the field's current output of 80,000 barrels per day by at least 40 percent.The deal - ratified Tuesday by the Iraqi Cabinet - is part of an accelerated plan to raise Iraq's output from its current level of 2.4 million barrels per day by 2010.Maysan is about 200 miles (320 kilometers) southeast of Baghdad.

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