Irish-based oil company Petrel Resources has signed a services contract with the Iraq Ministry worth nearly $200 million.
Petrel will raise production at the Subba and Luhais oilfield from under 50,000 barrels of oil daily to over 200,000 barrels of oil and 120 million cubic feet of gas daily.
Initial work is mainly engineering design with site surveys beginning in early 2006, the company said.