Reuters West Qurna 1 Oilfield, Iraq
Production at Iraq’s giant West Qurna 1 oilfield in the south has reached 465,000 bpd after the completion of new crude processing facilities and oil storage tanks, Iraqi oil officials said yesterday.
West Qurna 1 oilfield, developed by Exxon, was previously producing about 440,000 bpd, officials working at the field told Reuters on the sideline of a ceremony to launch the new installations.
Exxon’s foreign staff were present, having returned to the oilfield on June 2, two weeks after Exxon pulled about 60 people from the oilfield and flew them to Dubai.
The evacuation came days after the US withdrew non-essential staff from its embassy in Baghdad, citing a threat from neighbouring Iran.
Iraqi oilfield officials said Exxon’s foreign staff, including senior management and engineers, returned to the oilfield only after the Iraqi government agreed to provide extra security measures at the field, including the deployment of additional police and armed forces.
The officials and Exxon managers accompanied reporters on a tour inside West Qurna 1 yesterday where armoured vehicles and soldiers from the Iraqi army were seen stationed at the gates of the oil production facilities.
Two new crude processing facilities with a joint capacity to process 150,000 bpd of oil, a unit to separate water and oil and five oil storage tanks started testing operations yesterday.
The new projects would help to boost production at the field to progressively reach 490,000 bpd, said a senior oilfield
Iraq is producing slightly more than 4.5mn bpd, below its full capacity of nearly 5mn bpd in line with an agreement between Opec and other producers such as Russia to curtail global supply in order to support prices.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
QIB redefines banking habits with its latest Internet Banking platform
Qatar, US explore options to further boost bilateral trade
Multinational energy firm Equinor looks to establish presence in Qatar
Greece, China sign 16 deals in sectors including energy
Worst-performing bank stock is now seeing world’s biggest surge
EM markets retreat as HK unrest hits sentiment
Hong Kong’s stock rally buckles as protests worsen
German flickers of hope arrive just before recession verdict
Stock markets start week in reverse gear