Iraq’s Rumaila field to expand production
Up to 1.1 million barrels-a-day by July
Iraq’s Rumaila oil field will produce an extra 100,000 barrels-a-day (b/d) by July, according to Falah Alamri, head of Iraq’s State Oil Marketing Organisation, Reuters reports.
The super-giant field contains an estimated 17bn barrels of crude reserves. Production in 2009 was 1m b/d.
In November, UK oil major, BP and China National Petroleum Company signed a 20-year development contract for the field. The two companies plan to invest $15bn over the 20-year duration of the contract.
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