Weatherford Signs 18-Month Contract With Iraqi Drilling Company

Agreement Will Provide Services, Project Management for Drilling, Completion of 20 Wells

HOUSTON, July 13, 2020 /PRNewswire/ -- Weatherford International plc (OTC Pink: WFTLF) announced today it has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

Basim M. Khudair, General Director for IDC, said, "Signing this contract between IDC and Weatherford is a great accomplishment for both parties. It sets the right ground for our mutual and constructive joint cooperation in the future."

IDC will provide rigs, civil works and drilling services; Weatherford will provide project management and all other associated services. The operation will be performed with four rigs provided by IDC.

Frederico Justus, President, International Operations, Weatherford, noted, "This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract."

IDC is a leading Iraqi service company focusing on rig services and is a key player in the nationalization program for the country's oil and gas sector.

About Weatherford 
Weatherford is the leading wellbore and production solutions company. Operating in more than 80 countries, the Company answers the challenges of the energy industry with its global talent network of approximately 20,000 team members and 600 locations, which include service, research and development, training, and manufacturing facilities. Visit weatherford.com for more information or connect on LinkedIn, Facebook, Twitter, Instagram, or YouTube.

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