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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil raises Majnoon field production and export capacity is "fixed"... Raising surplus production by

    Rocky
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    Oil raises Majnoon field production and export capacity is "fixed"... Raising surplus production by Empty Oil raises Majnoon field production and export capacity is "fixed"... Raising surplus production by

    Post by Rocky Mon Sep 12, 2022 6:32 am


    [size=30]Oil raises Majnoon field production and export capacity is "fixed"... Raising surplus production by 40% and accumulating it!

    2022-09-12
    [/size]
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    Yes Iraq: Baghdad

    The Ministry of Oil hopes to raise the production of the Majnoon oil field by 60%, which will raise Iraq's production to about 4.7 million barrels per day, at a time when Iraq's production capacity is currently only 4.5 million barrels per day, which means the possibility of raising the total production by 5%.
     
    The Majnoon field management in the Basra Oil Company announced that it is hoped to increase the production capacity of the field to 400,000 barrels per day in 2023 after the completion of the “CPF-2” plant that is being built by Petrofac.
    The Director of Majnoon Field Development Department at the Basra Oil Company, Diaa Shaker, stated that there is another ministerial plan to escalate the field’s energy to 600,000 barrels during the next four years, indicating that the plan was prepared in coordination with Anton Consulting Company in the field and KBR Company, and the comprehensive development plan was referred for its preparation. by Schlumberger.
    The Majnoon field management in the Basra Oil Company said that the plan to develop the field and escalate production to 600,000 barrels per day depends on drilling 130 production wells, water injection, and establishing gas isolation stations with a capacity of 200,000 barrels per day, an acid gas treatment unit, an electric power station and other water injection stations.
     
    Shaker added that the plan to escalate production to 400,000 barrels per day had actually begun three years ago, despite the difficult conditions that surrounded the field such as torrential rain and the repercussions of the Corona pandemic, but this year witnessed the completion of three development projects, including the ISB3 production support project, and drilling Connecting 30 wells, and the River Water project for washing oil, among others.
    Majnoon field is currently producing 240,000 barrels per day, and by raising it over the next year by 60% to 400,000 barrels per day, it will mean adding more than 150,000 barrels per day to Iraq's production.
     
    And while Iraq produces more than 4.5 million barrels per day, 3.3 of which go for export, and one million barrels per day represents Kurdistan’s production as well as domestic consumption, while there is a surplus of 200 thousand barrels per day left. It should not exceed 4.3 million barrels per day, due to its weak export, storage and refining capacity.
     
    Therefore, this increase is considered “useless” at a time when the Ministry of Oil did not raise the export capacity of more than 3.3 million barrels per day, and there is already excess production in Iraq that it cannot export, consume or refine in refineries, amounting to about 200 thousand barrels per day, and by raising production, the surplus production will rise Iraq has “useless” to more than 350 thousand barrels per day, bringing the percentage of surplus in Iraq by more than 40%.
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