Royal Dutch Shell PLC (RDSB.LN) plans to raise oil production from Iraq's supergiant Majnoon oil field to 175,000 barrels a day by the end of 2012, a company executive said Wednesday.
Royal Dutch Shell PLC (RDSB.LN) plans to raise oil production from
Iraq
's
supergiant Majnoon oil field to 175,000 barrels a day by the end of 2012, a
company executive said Wednesday.
Shell, which partnered
Malaysia
's
state-run Petronas (PETR.UL) to develop Majnoon, this year has raised production
from the field to 65,000 barrels a day from 40,000 barrels a day, the executive
told Dow Jones Newswires on the sidelines of an
Iraq
petroleum conference being held in
London
.
The Anglo-Dutch major also signed last week in
Basra
in
southern
Iraq
a deal
with Halliburton Co. (HAL) of the
U.S.
and
the state-run Iraqi Drilling Co. a contract to drill 15 wells at the
12.8-billion-barrel field. "Drilling is expected to start in March next
year," the executive said. He gave no figure of the value of the deal.
In August, a senior Iraqi oil official said that Shell/Petronas had also
awarded U.K.-based oil and gas services company Petrofac Ltd. (PFC.LN) an
engineering, procurement and construction contract to build two crude-oil
processing plants, each with a 50,000-barrel-a-day capacity. The project has
yet to be signed officially, people familiar with the matter said.
Shell and Petronas were awarded a contract a year ago to develop the Majnoon
field, which is located in
Basra
governorate. Shell owns 45% of the venture and Petronas 30%, with
Iraq
's
state-run South Oil Co. holding 25%.
They pledged to raise production to 1.8 million barrels a day from Majnoon by
2017.
Shell is also in the final stages of negotiations with the
Baghdad
government to sign a gas deal aimed at capturing and selling gas produced from
southern oil fields.
Last week, Iraqi Deputy Oil Mminister Ahmad al-Shammaa told reporters in
Basra
that
the $12.5 billion deal could be signed by the end of this year.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr
Διαβάστε ακόμα
Παρ, 11 Ιουλίου 2025 - 10:57
Παρ, 11 Ιουλίου 2025 - 10:52
Πεμ, 10 Ιουλίου 2025 - 08:56
Πεμ, 10 Ιουλίου 2025 - 08:50
Τετ, 9 Ιουλίου 2025 - 08:39