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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

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    Cabinet: Majnoon field development plan will reduce management costs by $ 300 million

    Rocky
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    Cabinet: Majnoon field development plan will reduce management costs by $ 300 million Empty Cabinet: Majnoon field development plan will reduce management costs by $ 300 million

    Post by Rocky Mon 05 Mar 2018, 2:25 am

    Cabinet: Majnoon field development plan will reduce management costs by $ 300 million



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    The General Secretariat of the Council of Ministers announced on Monday that 
    the plan to develop the Majnoon oil field will reduce the cost of management at a rate of $ 300 million annually. 
    The Secretariat said in a statement read by "Economy News", "The implementation of plans to develop the business of Majnoon oil field, which was assigned to the Basra Oil Company requires the implementation of the same standards and methods approved licensing companies licensing." 
    "The implementation will require a commitment to reduce the development costs of production at a steady rate of not less than 30% during the 2018 plan to reach at least 50% of the development costs contained in the operator's plans, in addition to reducing the time periods by at least 20% Planned ".
    "The plan requires the management of the field in the best way and in order to ensure a number of objectives, the most important of which is to reduce the cost of management and development at a rate of $ 300 million / year for the previous costs, as well as to lead the national owners of the activities of the most important national fields of Iraqi administration and global standards to achieve sustainable development of the country" . 
    On December 21, 2017, the Ministry of Oil announced that it would receive the Majnoon oil field from Shell International at the end of March, noting that it seeks to reduce the cost of producing a barrel in the field to 30%.




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