Iraq's Majnoon ‘crude output at 75,000 bpd’
Istanbul, September 27, 2011
Crude production from Iraq's Majnoon oilfield is currently about 75,000 barrels per day, up from 65,000 bpd in July, a Shell executive said on Tuesday.
Royal Dutch Shell and Petronas won a contract in 2009 to develop Majnoon, one of the world's biggest oilfields. The eventual output target for the field is 1.8 million bpd.
'Production is approximately 75,000 barrels,' Shell Vice President Hans Nijkamp told an Iraq energy conference in Istanbul.
At the same conference, Exxon Mobil Vice President Paul Dubetz said Iraq's West Qurna Phase One field is averaging production of 350,000 bpd.
That was the same figure given for Majnoon's output by Iraqi Deputy Prime Minister Hussain al-Shahristani in early June. He said at the time that the field was expected to reach 400,000 bpd by the end of the year.
Iraq has signed a series of contracts with international oil firms aimed at ramping up production capacity to 12 million bpd by 2017.
Oil Minister Abdul-Kareem Luaibi said recently a production capacity target of 8 million to 8.5 million bpd was 'more suitable' than the current plateau target. – TradeArabia News Service