Royal Dutch Shell PLC (RDSA) along with its partners, Malaysia's Petronas and the Iraqi state Missan Oil Co., will start drilling the first new well in the super-giant Majnoon oil field in July, a company executive said Thursday.
Royal Dutch Shell PLC (RDSA) along with its partners,
Malaysia
's
Petronas and the Iraqi state Missan Oil Co., will start drilling the first new
well in the super-giant Majnoon oil field in July, a company executive said
Thursday.
"Shell is targeting July 2011 to spud the first well," Ole Myklestad,
managing director of Shell in
Iraq
told
reporters in
Basra
.
Between 15 and 20 wells will be drilled in Majnoon oil field in southern Iraq
and some 27 others will be refurbished to bring output to 175,000 barrels a day
by the end of next year from the current 60,000 barrels a day, Myklestad said. The
new wells and the refurbish work is part of an early production plan.
The well drilling is part of a contract Shell and its partners signed with
U.S.
service giant Halliburton Co. (HAL) and the state-run Iraqi Drilling Co. last
year.
The executive also said that Shell has opened a new office in
Basra
to
manage its projects in
Iraq
. The
office is to make sure that "we have the human resources and all the
supports required by an international company in
Basra
."
Myklestad said that there are some 300 Iraqis working on the Majnoon project
and they are from the state-run South Oil Co. Some 50 Shell expatriate
personnel are also working on the project, he said.
Shell and Petronas won the right to develop Majnoon oil field, located in
Basra
governorate in southern
Iraq
, at
an auction held in
Baghdad
December 2009. Shells owns 45% of the venture and Petronas 30%, with
Iraq
's
Missan Oil Co. the remaining 25%.
Shell also will start constructing a 75 kilometer pipeline to connect Majnoon
with the crude oil depots in Faw, as a stop before shipping the crude into
vessels in the Gulf. Myklestad said that Shell and its partner would provide
the finance for building the pipeline.
The Anglo-Dutch giant is also planning to commence a seismic survey but after
clearing mines left from the 1980-88 Iraq-Iran war.
"We want to get results of a seismic survey in the next two years,"
he said.
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