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Report Suggests Iraqi Oil Production is the Highest It Has been in 28 Years

The main reason for the increasing production was the deterioration of international oil prices, the report said.

Basra/ Iraq TradeLink: The annual report submitted by Basra Oil Company to the Iraqi government reported that Rumaila oilfield's production reached the highest level since 1989.

The report pointed that Rumaila oilfield production reached to 1.411 million b/d during 2016.

The main reason for the increasing production was the deterioration of international oil prices, the report said.

Among the achievement, the report added that 25 new wells were drilled in 2016 and utilizing 23 wells in actual production, as well as completing maintenance for 117 oil wells, thus increasing their production capacities.


Rumaila oilfield is operated by partnership among the British BP, Basra Oil Company, Chinese PetroChina oil Company and Iraqi Oil Marketing Company, SOMO.
Source: Iraq TradeLink

 

 

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