French oil
giant Total SA said Wednesday it has started production at Iraq's Halfaya
oil field as part of a consortium led by operator PetroChina, with partners
Petronas Caligari and the Iraqi state partner South Oil Company.
The company said that production should reach, in its first phase, an
average of 70,000 barrels of oil a day.
The operator, PetroChina, holds 37.5% of the consortium, and Total and Petronas
Caligari both hold 18.75% stakes in the consortium, while Iraqi state partner
South Oil Company holds 25%.
The consortium's production launch is part of a 20-year concession contract
signed with Missan Oil Company for the development of the Halfaya oil field.