Iraq's Rumaila oil field achieves 3 Bbbl production landmark

BASRA, Iraq -- The Rumaila Operating Organisation (ROO), composed of BP, PetroChina and the South Oil Company of Iraq, has announced that Rumaila oil field has produced 3 Bbbl of oil since the joint venture began operating in January 2010.

During the past six years, the oil produced from Rumaila has provided the Iraqi state with an estimated $200 billion in revenue. Oil production at Rumaila is now at its highest rate in 27 years, producing over 1.45 MMbpd, up from 1 MMbpd in 2009.

Jabar Ali al-Luaibi, Iraq’s Minister of Oil, said, “Producing 3 Bbbl in such a short period of time is an impressive achievement. Rumaila is a crucial oil field, and we look to our international partners and Iraqi colleagues to continue to increase production from the field in the years to come.”

Bernard Looney, BP’s chief executive of Upstream, said, “Achieving 3 Bbbl of oil in less than seven years is a fantastic achievement, especially when you consider the challenges the oil and gas industry has faced globally during the past two years. Despite this challenging environment the BP team, working shoulder-to-shoulder with our colleagues at PetroChina and SOC, safely delivered increased production and important oil revenues for Iraq.”

Under ROO’s management, the number of producing wells at Rumaila has risen by about 50%, with more than 240 new wells drilled and an ongoing well workover program implemented to counter the natural rate of decline of the mature field. Cutting edge technologies, such as ‘real-time’ well logs, advanced core sample analysis and 3D subsurface maps, have improved well performance, drilling accuracy and efficiency.

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