Royal Dutch Shell reported late Monday that it has exported its first oil from the Majnoon oilfield in southern Iraq to its Shell Trading operation.
Shell said the achievement comes as production at the Majnoon field reached an average of 210,000 barrels of oil per day – significantly above its 175,000 bopd first commercial production target.
"This is a historic event for Iraq's energy industry. The lifting of Shell's first oil shipment from Majnoon has great significance to us and our partners in the Government as it is a testimony to our shared progress and signals the start of Majnoon's long-term journey toward generating further revenue for Iraq’s economy, and as an investment in Iraq’s future," Hans Nijkamp, Vice President and Chairman of Shell in Iraq, said in a company statement.
Shell and its partners (South Oil Company, Petronas and Missan Oil) recommenced production from Majnoon in September 2013 following the completion of major overhaul works. 18 new wells have been drilled on the field, while the project has created more than 2,850 jobs for local Iraqis.
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