Developing Majnoon Oilfield by National Effort

Economy

19-12-2018, 11:33

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Ina- Basra

Deputy Prime Minister for Energy and Minister of Oil Thamir Abbas Ghadhban stressed today (Wednesday) the Ministry is keen to implement its plan to Develop Majnoon Oilfield by National Effort. According to a statement of the Oil Ministry that Ina received a copy of; Minister Thamir Ghadhban attended the signing ceremony of two contracts. The first- between Basra Oil Company and Schlumberger Company, to dig 40 oil wells in Majnoon field. The second- between Basra Oil Company and Oil Exploration Company, to carry out Seismic survey of the field; in 2 and 3 dimensions.

The Minister said:” Majnoon is one of the giant oilfields, with large production potential. The signing of these contracts is to raise production levels and regulate the technical management by National Effort; after Shell Co. pulled out of its commitment to develop it. Digging 40 wells shall raise production and provide additional financial revenues to the state treasury”.

He added: “Carrying out Seismic survey of the field; in 2 and 3 dimensions will provide precise data for Basra Oil Company, to lift up production criteria and use the best techniques of modern technology; by pure National Effort.

The General Manager of Oil Exploration Company- Nashwan Muhamad Noori said: “It is a big contract with Basra Oil Company; to get precise data for a full profile of the field’s structural and determine the extension of the oil patches”. Adding- it is to be a 19 month contract, which the company is qualified to carry out; with its field, technical, and lab potential, proved in previous contracts.

Majnoon Oilfield is one of the giant fields in Iraq, its present production rate is about 240 MB/d.