Middle East Economic Survey

VOL. LIV

No 3

17-Jan-2011

IRAQ

Rumaila Developers Announce Output Milestone

BP and its partners at Iraq’s giant Rumaila oil field expansion, state-owned South Oil Company (SOC) and CNPC, on 11 January announced they had increased production by more than 10% above an initial output rate of 1.066mn b/d, triggering the cost recovery phase of the $15-20bn project.

The announcement had been expected, given December production that averaged 1.25mn b/d (MEES...