BP working up new plan for Rumaila

Output rethink: BP chief executive Robert Dudley

Reuters/Scanpix

By VAHE PETROSSIAN and MARK HILLIER Abu Dhabi

 15 November 2012 23:59 GMT

BP is working on a plan for full-field development of Iraq’s giant Rumaila oilfield that could include output levels well short of the original target of 2.8 million barrels per day in line with the Iraqi government’s shifting priorities.

The supermajor and its partner China National Petroleum Corporation will have their plans ready by the turn of the year, or early 2013 at the latest, for presentation to the South Oil Company and the Oil Ministry.

The development plan will offer several options on fresh production levels to the Iraqi side, only one of which will be based on the 2.85 million bpd figure set when the two sides originally signed a contract in November 2009.

Sources said there could be a new target of as low as 2 million bpd, with…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index