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Oil" signed a two-year contract with the companies "Anton" and "Petrovac"
April 05 2018 06:14 PM
April 05 2018 06:14 PM
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[rtl][rtl]Ministry of Oil - Archival[/rtl]
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The Oil Ministry on Thursday signed a two-year contract with Anton Oilfield Services and Petrofac to operate the Majnoon field.
The two companies operate the field in the south of the country on behalf of the Basra oil company owned by the Iraqi government, which receives operations from Royal Dutch Shell, after the latter announced its intention to leave the field (which began production in 2014) by the end of June.
The Basra Oil Company announced in February that it plans to increase production from the Majnoon field to 450,000 bpd in three years from 240,000 bpd by adding a new production platform.
Iraq is OPEC's second largest oil producer after Saudi Arabia, producing 4.4 million bpd of crude in March.
Iraq is producing less than its full capacity of about 5 million barrels per day under an agreement between OPEC and other producers, including Russia to curb global supplies to support oil prices.
The Iraqi government has unveiled this week its plan to increase the country's production capacity to 6.5 million barrels per day by 2022.
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Baghdad Post
[rtl]The Oil Ministry on Thursday signed a two-year contract with Anton Oilfield Services and Petrofac to operate the Majnoon field.
The two companies operate the field in the south of the country on behalf of the Basra oil company owned by the Iraqi government, which receives operations from Royal Dutch Shell, after the latter announced its intention to leave the field (which began production in 2014) by the end of June.
The Basra Oil Company announced in February that it plans to increase production from the Majnoon field to 450,000 bpd in three years from 240,000 bpd by adding a new production platform.
Iraq is OPEC's second largest oil producer after Saudi Arabia, producing 4.4 million bpd of crude in March.
Iraq is producing less than its full capacity of about 5 million barrels per day under an agreement between OPEC and other producers, including Russia to curb global supplies to support oil prices.
The Iraqi government has unveiled this week its plan to increase the country's production capacity to 6.5 million barrels per day by 2022.
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