Iraq Awards $348M In Oil Drilling Contracts

Law360, New York (September 4, 2013, 5:24 PM EDT) -- The Iraqi government has awarded four oil drilling contracts worth a total of $348 million to Swiss oil services firm Weatherford International Ltd. and two Chinese firms, including a division of China National Offshore Oil Corp., Iraq's cabinet announced late Tuesday.

The Middle Eastern country said in a brief statement that Weatherford was awarded two drilling contracts totaling about $177 million. CNOOC oil services division COSL won a $74 million contract, while China's Bohai Drilling Engineering Co. Ltd. received a $96.7 million services contract.

All four...
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