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Iraq is consistent with the oil companies to resume investment and increase production
Thursday 11-08-2016 | 1:06:50
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XYZ
Twilight News / Iraqi officials in the oil sector, he said that Iraq had reached an agreement with BP, Shell and Lukoil for the resumption of the stalled investment in the oil fields being developed by these companies, including giving way to the resumption of projects that stalled in the current year and to increase crude oil production in 2017.
These agreements - which were reached in July and August - and postpone the implementation of the projects to the second half of the year after the three companies planned to be implemented in the first half where it was suspended due to low oil prices.
Officials said it was expected that these investments lead to increased Iraqi crude oil production by between 250 thousand and 350 thousand barrels per day next year. Iraq currently produces about 4.6 million barrels per day, mostly from the southern region.
Shell declined to comment. No one was immediately available for comment from BP and Lukoil.
Reuters
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Thursday 11-08-2016 | 1:06:50
[You must be registered and logged in to see this image.]
XYZ
Twilight News / Iraqi officials in the oil sector, he said that Iraq had reached an agreement with BP, Shell and Lukoil for the resumption of the stalled investment in the oil fields being developed by these companies, including giving way to the resumption of projects that stalled in the current year and to increase crude oil production in 2017.
These agreements - which were reached in July and August - and postpone the implementation of the projects to the second half of the year after the three companies planned to be implemented in the first half where it was suspended due to low oil prices.
Officials said it was expected that these investments lead to increased Iraqi crude oil production by between 250 thousand and 350 thousand barrels per day next year. Iraq currently produces about 4.6 million barrels per day, mostly from the southern region.
Shell declined to comment. No one was immediately available for comment from BP and Lukoil.
Reuters
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