Iraq's Majnoon to Pump 175,000 boepd in 2012

Shell expects to pump as much as 175,000 barrels of oil equivalent per day in 2012 from the massive Majnoon oil field in Iraq, Dow Jones reported, citing a senior company executive.

The Dutch oil major anticipates that the field's production will reach this level ahead of its seven-year target of 1.8 million barrels per day, the report said.

"The contract has two milestones. One of them is 175,000 barrels [of oil equivalent] per day, and 2012 is the Shell aspiration for that," Mounir Bouaziz, Shell vice president for new business in the Middle East and North Africa, told Dow Jones Newswires at an industry event in Abu Dhabi.

Before advancing plans to develop and sell natural gas in Iraq, Shell is waiting on a new Iraqi administration, Bouaziz, quoted by Dow Jones, said.