Production
As of October 2012, the field produces 1,330,000 barrels per day (211,000 m3/d) making up 40% of Iraq's oil production of 2.4 million barrels per day (380,000 m3/d). Currently ~270 production wells are operating at Rumaila. BP and CNPC intend to raise the production to 2.85 million barrels per day (453,000 m3/d) within the next six years. Once this production milestone is reached, Rumaila will become the second largest oil field in the world after the Saudi Arabian Ghawar oil field.
- Drilling contracts
In early 2010, BP subcontracted deals valued at around $500 million to Weatherford International, consortium of Schlumberger and Iraqi Drilling Co, and Daqing Oilfield Company Limited from China to drill 49 new wells at Rumaila. Weatherford is going to drill seven wells while partnership of Schlumberger and Iraqi Drilling Co, and Daqing Oil Field Co will drill 21 wells each.
In February 2011, Conceptual Design, Front End Engineering Design (FEED), Minimum Work Obligations and Integrated Project Management Team (IPMT) services contract was awarded to WorleyParsons
Read more about this topic: Rumaila Oil Field
Famous quotes containing the word production:
“Constant revolutionizing of production ... distinguish the bourgeois epoch from all earlier ones. All fixed, fast-frozen relations, with their train of ancient and venerable prejudices are swept away, all new-formed ones become antiquated before they can ossify. All that is solid melts into air, all that is holy is profaned, and man is at last compelled to face with sober senses, his real conditions of life, and his relations with his kind.”
—Karl Marx (1818–1883)
“The heart of man ever finds a constant succession of passions, so that the destroying and pulling down of one proves generally to be nothing else but the production and the setting up of another.”
—François, Duc De La Rochefoucauld (1613–1680)
“An art whose limits depend on a moving image, mass audience, and industrial production is bound to differ from an art whose limits depend on language, a limited audience, and individual creation. In short, the filmed novel, in spite of certain resemblances, will inevitably become a different artistic entity from the novel on which it is based.”
—George Bluestone, U.S. educator, critic. “The Limits of the Novel and the Limits of the Film,” Novels Into Film, Johns Hopkins Press (1957)