Iraq is pushing forward with a $172 million investment to improve its oil production capacity. The Iraqi Drilling Company (IDC) will use the funds to purchase advanced drilling and workover rigs. This move supports the national strategy to enhance upstream operations and increase oil output.
The announcement followed a key meeting led by the Deputy Minister of Oil for Upstream Affairs. Senior officials from the Ministry of Oil, IDC, and Basra Oil Company participated. Together, they agreed that upgrading Iraq’s drilling equipment is essential for stronger national oil performance.
As a result, the government allocated a new budget to help IDC expand its fleet. This funding enables the company to handle more drilling contracts and partner in upstream projects. These partnerships will allow IDC to gain direct shares in production and diversify its revenue sources.
At the same time, safety and training remain top priorities. The Deputy Minister urged the company to enforce strict health, safety, and environmental (HSE) standards. He also called for expanded training programs to improve skills and ensure worker protection.
The Iraq drilling equipment initiative aims to improve field performance across the country. IDC’s Director General said the company is solving current challenges. He also praised the national staff for their dedication and readiness to complete complex drilling tasks.
Meanwhile, the Director General of Basra Oil Company praised IDC’s technical abilities. He stressed that strong collaboration between local oil firms will speed up large-scale energy projects. This coordination also supports long-term national energy goals.
Clearly, Iraq’s drilling equipment upgrades represent a major step toward energy independence. The investment allows IDC to compete with international contractors while reducing reliance on foreign services. Moreover, it positions Iraq to increase oil production with homegrown expertise.
Looking ahead, the Ministry plans to assign more drilling projects to IDC. With new equipment and skilled teams, the company is ready to deliver stronger results.
