Iraqi oil official : The plan to develop Gharb Alqurna oil field include digging 8 new wells

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Iraqi oil official : The plan to develop Gharb Alqurna oil field include digging 8 new wells

Translated by IRAQdirectory.com - [5/26/2010]

Iraqi oil official said Monday that the initial developing plan which EXXON MOBIL company and it is allies approved for the first stage of Iraqi Gharb Alqurna field include digging 8 new wells and updating up to 50 wells this year to boost the production.

Basem Abdulkareem director of operating board in South oil company said during interview with Reuters that global oil services companies will be invited to dig 4 new wells and that the Iraqi drilling company owned by the state is already working to dig the other 4 wells as part of the plan to dig 8 new wells this year to increase the current production volume of 225 thousand barrel per day.

Abdulkareem added saying we will issue tender for the other 4 wells and there will be tenders to update about 45 to 50 wells until the end of the year.

Abdulkareem who is also member of joint administration committee for the first stage of Gharb Alqurna field which include executive officials from EXXON and it is partner ROYAL DAC SHELL and officials from Iraqi South oil company said that the tenders which will be discussed in the committee meeting will be open for all companies including foreign service companies like WEATHERFORD INTERNATIONAL and FLUOR CORP.

EXXON MOBIL won the contract to develop the first stage of Gharb Alqurna field with reserves of 8.7 billion barrel in the licensing round to develop oil fields that Iraq made last year.

EXXON MOBIL and its partners pledged to increase the production to 2.325 million barrel of oil per day after setting the level of 244 thousand barrel per day as minimum production volume.

This deal is one of chain of deals to develop the big and unused oil fields which will put Iraq in the third place among biggest oil producers in the world and increase its production capacity to reach the production capacity of Saudia which is 12 million barrel per day from the current 2.5 million barrel per day.

But there are some challenges and one of them is providing some Southern oil fields with huge amounts of water to increase the pressure and production where pumping water help increasing the production.

And in order to overcome this problem EXXON started multibillion US dollars project to pump water for international oil companies that won contracts to develop fields in Southern Iraq like Gharb Alqurna , Majnon , Alzubair and Halfawya fields which lack sufficient water resources.

And also there are other companies like the Italian ENI company currently negotiating with Iraqi officials to start projects to provide water for the oil fields.

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[luckylucy]

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luckylucy

[retirementafterrv]

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