U.K. oil major BP PLC (BP), along with its partner China National Petroleum Corp., plans to raise output from Iraq's supergiant Rumaila oil field by 100,000 barrels a day in November, Iraq's deputy oil minister said Monday.
U.K. oil major BP PLC (BP), along with its partner China National
Petroleum Corp., plans to raise output from Iraq's supergiant Rumaila oil field
by 100,000 barrels a day in November, Iraq's deputy oil minister said Monday.
"Initial output of the field will go up by 10% next month," Abdul
Kareem Luaibi told Dow Jones Newswires. Rumaila, in southern
Iraq
, is
currently producing 1.07 million barrels a day.
According to a $15 billion deal signed with the two firms in November 2009, a
10% increase was agreed to be reached in three years from start of work but is
going to be achieved in one year.
"I'm really impressed by the pace of work at Rumaila and other
fields," said Luaibi, who is deputy minister for upstream, adding there
are 20 rigs working in the field, some for existing wells and the rest for
drilling new wells.
BP earlier this year said it would issue tenders to drill between 80 and 100
wells in Rumaila in 2010 and 2011. It had already awarded three deals, valued
at around $500 million, to drill 49 wells as part of a program to upgrade the
field.
The Oil Ministry has estimated proven reserves of Rumaila at 17 billion
barrels, but Luaibi said BP hasn't yet started the 3D seismic surveys and when
these are completed the field's reserves are expected to increase.
BP and CNPC, both of which signed a 20-year service contract in November last
year to develop Rumaila, are planning to increase production from the field to
2.85 million barrels a day from current 1.07 million barrels a day.
Iraq, which sits atop the world's third-largest oil reserves, signed over the
last 10 months some 11 major oil deals with the aim of boosting its production
to 12 million barrels a day in six to seven years' time, up from 2.4 million
barrels a day currently.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01