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UPDATE 2-Russia's Lukoil begins output from giant Iraq oilfield
UPDATE 2-Russia's Lukoil begins output from giant Iraq oilfield
(Reuters) - Russia's Lukoil began commercial production from one of the world's largest untapped oilfields in Iraq on Saturday, as the country raises output to record levels.
Production from the giant West Qurna-2 is eventually expected to reach 1.2 million barrels per day (bpd), from an initial 120,000 bpd.
The field is one of several that form the backbone of Iraq's plans to revive its oil sector and lift the economy after decades of sanctions and war.
At a ceremony to inaugurate the field, Iraqi Oil Minister Abdul Kareem Luaibi said output from West Qurna-2 would enable Iraq to reach a production target of 4 million bpd by the end of the year.
- more -
http://in.reuters.com/article/2014/03/29/iraq-oil-idINL5N0MQ03N20140329
(Reuters) - Russia's Lukoil began commercial production from one of the world's largest untapped oilfields in Iraq on Saturday, as the country raises output to record levels.
Production from the giant West Qurna-2 is eventually expected to reach 1.2 million barrels per day (bpd), from an initial 120,000 bpd.
The field is one of several that form the backbone of Iraq's plans to revive its oil sector and lift the economy after decades of sanctions and war.
At a ceremony to inaugurate the field, Iraqi Oil Minister Abdul Kareem Luaibi said output from West Qurna-2 would enable Iraq to reach a production target of 4 million bpd by the end of the year.
- more -
http://in.reuters.com/article/2014/03/29/iraq-oil-idINL5N0MQ03N20140329
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
Lukoil, hunh? Another sign of the resounding success of the Neo-Cons at bringing Iraq solidly into the US economic sphere and making Iraq a reliable US ally.
