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West Qurna 2 Oil Field to Reach Peak 800,000 BPD by 2027

Iraq expects the West Qurna-2 oil field to reach maximum production of 800,000 bpd by 2027.

Iraq's Lukoil-operated West Qurna-2 oil field in the south is expected to reach a maximum output of 800,000 barrels per day (bpd) by 2027, according to the country's oil minister, as OPEC's second-largest producer strives to reach a production capacity of 8 million barrels per day by the end of that year.

In an interview with the state-run Iraqi News Agency, Ihsan Ismaael did not offer current production figures for the field.

According to the company's website, Lukoil inked a new development plan in May 2018 that calls for an oil production level of 800,000 bpd.

It also stated that West Qurna 2 is one of the world's largest oil fields, with initial recoverable reserves of roughly 14 billion barrels. Around 9% of Iraq's total oil production comes from this field.

West Qurna 2 is owned by Lukoil to the tune of 75%, with the remaining held by the state-owned North Oil Company.

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