CNPC, BP Increase Daily Output at Rumaila by 14%

Source: Bloomberg 7/12/2010, Location: Middle East

China National Petroleum Corp., BP Plc and a local partner may increase production at Rumaila, Iraq’s biggest oilfield, by 14 percent by the year-end after assuming full management of the block this month.

Daily crude production may rise to 1.17 million barrels from more than 1.03 million barrels currently, CNPC said in a statement on its website today.

BP and CNPC signed a 20-year service contract with Iraq in November to increase Rumaila’s output to 2.85 million barrels a day, making it the world’s second-largest producing oilfield, the London-based producer said on Nov. 3. Iraq is seeking to raise oil production to 6 million barrels a day by 2015 to boost its war-ravaged economy.

A venture formed by CNPC, BP and Iraq’s state-owned South Oil Co. formally took over operations and management of Rumaila on July 1, the Beijing-based company said.

The contract was the only oilfield deal awarded by Iraq in June in the first bidding round since the U.S.-led invasion in 2003.


Saudi Arabia >>  4/9/2021 - Aramco has signed a deal with a consortium led by EIG Global Energy Partners (“EIG”), one of the world’s leading energy infrastructure investors, to o...
Oman >>  3/24/2021 - Petroleum Development Oman (PDO) today (24 March) signed major service contracts worth US$4 billion covering project delivery and maintenance and inte...

Qatar >>  3/22/2021 - Saipem has received from Qatargas a Letter of Award for a new contract worth over 1 billion USD and related to the North Field Production Sustainabili...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.