Logistics Issues Delay Garraf Field until Mid-2013
TOKYO – Delays in getting equipment to the Garraf oil field in southern Iraq has delayed the start of production, a contractor said Friday.
The field will start working in the middle of the year, a Japan Petroleum Exploration Co., or Japex, spokesman said. The original start date was the end of 2012.
"Oil development in Iraq has been booming and there have been traffic jams in importing equipment," the Japex spokesman said.
Japex and Malaysia's Petronas Carigali Sdn. won the development and production contract from Iraq's state-owned South Oil Co. in 2009. Profit from the field is split 45% for Petronas, 30% for Japex and 25% for Iraq.
Petronas and Japex initially expect production of 60,000 barrels a day rising to 230,000 barrels in 2017, the Japex spokesman said.
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