Abdul-Jabbar: Rumaila field represents the third of Iraq's oil production

INA – BAGHDAD 
 
Minister of Oil, Ihsan Abdul-Jabbar, announced on Wednesday establishing Basra Energy Company, while noting that Rumaila field represents a third of Iraq's oil production.
 
"Today we announce the establishment of the Basra Energy Company by an Iraqi decision after the approval of the Cabinet," said Abdul-Jabbar in a press conference held in Baghdad and attended by Iraqi News Agency (INA) reporter.
 
He noted that "Basra Energy Company will be exempted from the legal requirement of the age of two years and thus fulfilled the legal aspect," 
 
“ We hope that its establishment will be a turning point to overcome previous failures, and achieve the plans set for achievement to reach peak production by the year 2027," he added, stressing that "the production of Rumaila field represents a third of Iraq's oil production,"
 
He included that, "Petro China and British Petroleum are the two shareholders with SOMO and Basra Oil Company,"