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:
“Perestroika basically is creating material incentives for the individual. Some of the comrades deny that, but I can’t see it any other way. In that sense human nature kinda goes backwards. It’s a step backwards. You have to realize the people weren’t quite ready for a socialist production system.”
—Gus Hall (b. 1910)
“Every production of an artist should be the expression of an adventure of his soul.”
—W. Somerset Maugham (1874–1965)
“It is part of the educator’s responsibility to see equally to two things: First, that the problem grows out of the conditions of the experience being had in the present, and that it is within the range of the capacity of students; and, secondly, that it is such that it arouses in the learner an active quest for information and for production of new ideas. The new facts and new ideas thus obtained become the ground for further experiences in which new problems are presented.”
—John Dewey (1859–1952)