Oil: BP submit a plan to develop the Rumaila field and determine production rates

Oil: BP submit a plan to develop the Rumaila field and determine production rates



Today, 04:23 AM

 



 
    17/07/2013 - 13:12 | Source:          Economy and Business     30 Show       Editor:    Ammar al-Ani 



 
Gas flaring in the Rumaila oil field

 
 
     Alsumaria News / Baghdad
announced that the Iraqi Oil Ministry, Wednesday, to provide BP British plan to develop the Rumaila field and determine rates of production, while indicated that it entered into negotiations with companies that are developing oil fields to modify the contracts signed with them. said general manager of contracts and licenses oil Ministry Abdul Mahdi al-Amidi said in an interview for "Alsumaria News", "The Oil Ministry will soon negotiations with BP Oil UK on the plan submitted by the company to develop the Rumaila field and determine production rates," he said, noting that "the ministry will start with the company negotiations to amend the contract with them to reduce the production peak of the field. " said Amidi "The plan includes reducing the production peak from the field to 2.1 million barrels a day instead of the 2.85 million barrels per day, which agreed with the company under the terms of the contract signed between them before," he said, adding that "both sides are convinced the process of the amendment and the quantity to be determined. " said Abdul-Mahdi said "the ministry entered into negotiations and discussions with the companies that are now developing the oil fields to modify the contracts signed with them previously to reduce production, including Shell and Exxon Mobil," pointing to "The ministry had previously signed with the Lukoil on the first amendment to reduce the production peak for West Qurna Phase II. " won the two companies, "BP British" Lucy namely that CNN China in June 2009 in the first licensing round to invest Rumaila ceiling production reached 2.85 million barrels per day, and a profit amounting to two dollars for every barrel of oil additional product from the field. considered Rumaila of the largest fields of Iraq in Basra, the fourth greatest oil field in global and date back its discovery in 1953, and oil is extracted from the Rumaila fields under the supervision of the Southern Oil Company in Basra, the estimated size of the reserve Rumaila Giant in the south at about 17 billion barrels.


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