Middle East Economic Survey

VOL. LII

No 30

27-Jul-2009

IRAQ

BP Submits Rumaila Development Plan

BP has submitted a development plan for the 2.85mn b/d Rumaila field development project it won in Iraqs first licensing round award on 30 June. Sources are keeping the size of the investment in question close to their chests, but MEES understands BP and its partner, Chinas state-owned CNPC, expect to spend around $20bn over the 20-year life of the technical service contract.

In Baghdad on 22 June, BP...