Iraq's untapped southern Halfaya oil field is expected to start pumping oil for the first time this summer, the top energy advisor to Iraq's prime minister said Monday, adding that the government's realistic output target for national production is 9 million barrels a day by the end of 2020.
Iraq's untapped southern Halfaya oil field is expected to start pumping
oil for the first time this summer, the top energy advisor to Iraq's prime
minister said Monday, adding that the government's realistic output target for
national production is 9 million barrels a day by the end of 2020.
"Halfaya is expected to start producing 70,000 barrels a day this
summer," Thamir Ghadhban told an Iraqi energy conference organized by CWC
Group in
London
.
Majnoon oil field, which is being developed by a consortium led by Royal Dutch
Shell PLC (RDSA), is also expected "hopefully" to start pumping new
oil by the end of this year. The field is currently producing 60,000 barrels a
day.
Ahdab oil field, being developed by PetroChina Co, has recently started
producing 120,000 barrels a day, Mr. Ghadhban said.
Mr. Ghadhban said the government is considering some scenarios for increasing
production but the most realistic one is bringing
Iraq
's
production to 9 million barrels a day by the end of 2020 from around 3 million
barrels a day now.
He said the plan is to increase to 3.4 million barrels a day by the end of this
year and to 4.4 million barrels a day in 2014.
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