Crude oil production from the giant Rumaila oil field in southern Iraq is expected to increase by 110,000 barrels a day either in July or August, a senior Iraqi oil official said Monday.
Rumaila, Iraq's largest producing oil field, is currently producing an average of 1.07 million barrels a day, Abdul Mahdy al-Ameedi, director-general of the Iraqi Oil Ministry's Petroleum Contracts and Licensing Directorate, told Dow Jones Newswires
BP PLC (BP) and China National Petroleum Corp., known as CNPC, signed a 20-year technical service contract in November last year to develop the field, which holds oil reserves of 17 billion barrels.
"According to the plan submitted by the contractors, oil production from the field will increase by 10% in July or August, which means an additional 110,000 barrels a day," Ameedi said.
That would be a modest start, but a start...
Also, the deal for West Qurna Phase II is final.