RPT-UPDATE 1-Iraq's West Qurna to hit 120,000 bpd in 2012

Tue Apr 27, 2010 7:17pm IST

Stocks

   

(Repeats with no change to text)

* W.Qurna II oilfield to hit 120,000 bpd in 2012

* Political situation not causing delays to development work

(adds details)

KUWAIT, April 27 (Reuters) - Production at Iraq's West Qurna phase two oilfield will hit 120,000 barrels per day (bpd) in 2012, a senior executive from Norway's Statoil (STL.OL) said on Tuesday.

Statoil along with its consortium partner Russian energy company Lukoil (LKOH.MM) have already started issuing tenders for work at the field, said Kjetil Tonstad, vice-president for International Exploration and Production, Middle East.

Development work at Iraq oilfields were moving ahead swiftly and the political situation has had no impact, he said.

"Execution is going full speed ahead despite the political situation, there is no delay caused by the political situation so far," he said.

Lukoil and Statoil sealed the 20-year deal to develop the West Qurna Phase Two, a 12.9 billion barrel oilfield in the south, in an auction in December.

(Reporting by Simon Webb; Editing by Amanda Cooper)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Managing Share Sales

Managing Share Sales

Govt seeks bids from banks to manage PFC, REC share sales   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage