KBR Awarded Contract By US Army Corps Of Engineers

Deal May Hinge on Exxon Mobil's Involvement, Iraqi Cabinet May Reactivate Deal with Halliburton

Exxon Mobil's Iraqi Oil Deal Extrication Efforts May Depend on Halliburton's Involvement

The Iraqi cabinet has approved a drilling deal with Halliburton valued at 278.5 million (324 billion Iraqi dinars).

HAL confirmed today that the US Army Corps of Engineers awarded the contract to KBR.

Exxon Mobil's multi-year effort to extricate itself from a groundbreaking Iraqi oil deal may hinge on the involvement of one of the world's largest oilfield services companies, Halliburton Co., which the Iraqi cabinet may reactivate to drill wells in a western gas field in Akkas next month.

Exxon Mobil has been trying to extricate itself from the deal since 2011, when the Iraqi government accused the company of inflating its costs.

The Iraqi government has said that it is willing to let Exxon Mobil out of the deal if it can find a replacement.

Halliburton is one of the few companies that has the expertise and experience to take over the project.

However, it is unclear whether Halliburton is interested in the project.

The company has not commented on the Iraqi government's offer.

If Halliburton does not take over the project, it is unclear what will happen to Exxon Mobil's stake in the deal.

The Iraqi government has said that it is prepared to take legal action against Exxon Mobil if the company does not fulfill its contractual obligations.

The Iraqi government has also said that it is open to discussing a settlement with Exxon Mobil.