Iraq to develop Howaiza oil field

Iraq’s Maysan Oil Company (MOC) aims to develop the Howaiza oil field, which saw its first well drilled at the end of the 1970s, but the development was halted because of the Iran-Iraq war, a report said.

Reservoir studies show an oil storage estimated with 854 million barrels, and oil reserves estimated at 219 million barrels, which qualifies the field to produce 20-to-30 thousand barrels/day (bpd) after the completion of the development, Adnan N Sajit, director general of MOC was quoted as saying in the Iraq Business News report.

He said also that the development plan will start in 2017, the report said.