Thursday, 28 Aug 2014
Iraq - Oil and gas projects (HVO IRQ-10)
Rumaila is a giant (est. 17 billion barrel reserves) oil field located in Southern Iraq approx. 20 km from the Kuwait border. The field makes up around 40% of Iraq oil production and there around 200 wells operating at Rumaila. In Oct 2012 the field was producing around 1.33 million barrels of oil a day and BP and CNPC intend to raise the production to 2.1 million barrels a day within the next 6 years by investing circa $15 billion to develop this field and increase production.
Majnoon is a super-giant (est. 38 billion barrel reserves) oil field located in Southern Iraq approx. 60km from Basra. In Dec 2009 the Iraqi Government award a licence to a Shell / Petronas JV. According to the deal, the JV will increase production to a peak 1.8 million barrels of oil a day by 2017.
Particular areas of interest include operations, projects, sub-surface, well services, environmental & training. Developments on these projects are currently under review as a consequence of the local political situation.
Activities are focussed on further developing the UK supply chain through targeted events such as share fairs and UK Roadshows.
High Value Opportunities (HVO) Programme
The High Value Opportunities Programme identifies large scale overseas projects offering the most value to UK Plc and aims to provide an intensive level of support to help UK businesses win contracts in and around these opportunities. Find out more.
Opportunity Type: Major Projects