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Rehabilitated Oil Fields Expected to Produce 500,000 bpd

Recently awarded 6 oil blocks to significantly increase Iraq's crude oil output

Iraq Oil Minister Jabar al-Luiaibi expects production of 500,000 barrels per day to be produced from the 6 oil fields awarded in the recent bid round. The 6 fields located near the Iranian and Kuwaiti borders are to be rehabilitated by the winning bidders of Crescent Petroleum, Geo-Jade and United Energy Group.

Source: Oil and Gas Journal

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