Iraq launched the third and final phase of work to expand its southern Halfaya oil field, aiming to double its output capacity in 2018 to 400,000 barrels per day (Mbbl/d), a state-run oil company said.
Additional facilities to separate crude oil from associated natural gas will be set up as part of Halfaya's expansion, Adnan Noshi, head of Maysan Oil Co., which oversees oil fields in Maysan province, told Reuters on April 25.
Halfaya, operated by PetroChina, is Maysan Oil's largest field, producing 200 Mbbl of the company's total output of 380 Mbbl/d, Noshi said.
Expansion at Halfaya should raise Maysan's overall output to nearly 600 Mbbl/d in 2018, he said. Iraq plans to increase its oil output capacity to 5 MMbbl/d before the end of 2017.
Output stood at more than 4.7 MMbbl/d, Oil Minister Jabar al-Luaibi said on April 2.
OPEC's second-largest producer after Saudi Arabia, Iraq produced at a rate of 4.464 MMbbl/d in March, down by more than 300 Mbbl/d from late 2016. Iraq has reduced its output alongside other oil exporters this year as part of an agreement aimed at boosting crude prices.
Recommended Reading
Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
2024-02-15 - The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
Tech Trends: SLB's Autonomous Tech Used for Drilling Operations
2024-02-06 - SLB says autonomous drilling operations increased ROP at a deepwater field offshore Brazil by 60% over the course of a five-well program.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
US Drillers Add Most Oil, Gas Rigs in a Week Since September
2024-03-15 - The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15.
US Drillers Add Most Oil Rigs in a Week Since November
2024-02-23 - The oil and gas rig count rose by five to 626 in the week to Feb. 23