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Oil Minister: West Qurna 2 field production will reach 500,000 bpd in 2014

Date: Wednesday, 25-04-2012 02: 41 pm


Basra (News)... Oil Minister Abdel Karim for Wednesday, would be producing a field West Qurna 2 will reach 500,000 bpd in 2014.

He would reporters including reporter (News Agency news) on Wednesday: expected field production by 150,000 barrels per day in 2013 and 2014 more production to 500,000 barrels per day, and so every year there will be a visit to the production process.

Referring to the ceremony would start drilling in the West Qurna 2 field to: that this increase will help to increase oil production in the coming years, particularly since Iraq seeks to increase production in the coming years, as it seeks to increase its oil export after obtaining a decision from OPEC.

Oil Minister: Iraq is the largest source of new oil supplies over the next few years after signing contracts for large-scale projects for prospecting and development fields with global oil companies.

And said: well, the pod 2 will be among 23 wells will be dug under the first phase of development of the West Qurna 2 field.

Single bardach said the company's President today began an active phase, bringing daily production field for the field to level of 150,000 barrels per day.

Bardach said in a press statement Wednesday: Lukoil would be entitled to receive compensation and grant after getting initial compensation, the project becomes self-financing, with the volume of investments allocated for project 25 billion dollars.

This and the Russian LUKOIL company operates the West Qurna 2 field giant in the South of the country.
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