Rumaila Oilfield in Iraq Produces 3 Billion Oil Barrels

Rumaila Oilfield in Iraq Produces 3 Billion Oil Barrels
The Rumaila Operating Organisation (ROO) announced Tuesday that the Rumaila oilfield has produced 3 billion barrels of oil since the joint venture began operating in January 2010.

The Rumaila Operating Organisation (ROO), composed of BP, PetroChina and the South Oil Company of Iraq, announced Tuesday that the Rumaila oilfield has produced three billion barrels of oil since the joint venture began operating in January 2010.

Oil production at Rumaila is now at its highest rate in 27 years, producing over 1.45 million barrels per day (bpd), up from 1 million in 2009, according to BP. During the past six years the oil produced from Rumaila has provided the Iraqi state with an estimated $200 billion dollars in revenue.

“Producing 3 billion barrels in such a short period of time is an impressive achievement,” Iraq’s Minister of Oil, Jabar Ali al-Luaibi, said.

“Rumaila is a crucial oil field and we look to our international partners and Iraqi colleagues to continue to increase production from the field in the years to come,” he added.

Bernard Looney, BP’s chief executive of upstream, also praised the speed of production at the field.

“Achieving 3 billion barrels of oil in less than seven years is a fantastic achievement, especially when you consider the challenges the oil and gas industry has faced globally during the past two years. Despite this challenging environment the BP team, working shoulder-to-shoulder with our colleagues at PetroChina and SOC, safely delivered increased production and important oil revenues for Iraq,” Looney said.

Under ROO’s management, the number of producing wells at Rumaila has risen by about 50 percent, with more than 240 new wells drilled and an ongoing well workover program implemented to counter the natural rate of decline of the mature field. 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Operations Coordinator
Expertise: Logistics Management|Operations Management
Location: Sugar Land, TX
 
Operator Assistant II - Surface Solutions
Expertise: Operations Management
Location: Williston, ND
 
Operator Assistant II - Surface Solutions
Expertise: Operations Management
Location: Williston, ND
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours