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Start extracting oil from the Basra area ninth by 5000 barrels per day
Thursday 15-10-2015
Twilight News / announced that the Iraqi Oil Ministry on Thursday for the start extracting crude from new oil wells in Basra in southern Iraq at a rate of 5000 barrels per day.
The general director of the Department of Petroleum Contracts and Licensing in ministries Abdul-Mahdi al-Amidi, in a statement to Twilight News reported that the production process that began in a well Fayha (1) of (5000) barrels per day within the patch ninth expedition.
He said he hoped to increase production levels in the well to $ (20,000) barrels per day in the near future.
The ministry said it is seeking to increase energy production and export of crude oil is reflected positively on the fiscal revenue realized.
And The coalition of the two Kuwaiti Kuwait Energy and Dragon Oil UAE operations ninth development area (900 square km) under an agreement signed with the Ministry of Oil in January 27, 2013.
Kuwait Energy Company share and a 70 percent of the contract value, while Dragon Oil owns the remaining section of it, and the profitability of the value of a coalition of US $ 6.24 for each barrel.
But it was amended on Development held last September 30 when the Egyptian Petroleum Corporation bought a 10% share of Kuwait Energy Company.
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Thursday 15-10-2015
Twilight News / announced that the Iraqi Oil Ministry on Thursday for the start extracting crude from new oil wells in Basra in southern Iraq at a rate of 5000 barrels per day.
The general director of the Department of Petroleum Contracts and Licensing in ministries Abdul-Mahdi al-Amidi, in a statement to Twilight News reported that the production process that began in a well Fayha (1) of (5000) barrels per day within the patch ninth expedition.
He said he hoped to increase production levels in the well to $ (20,000) barrels per day in the near future.
The ministry said it is seeking to increase energy production and export of crude oil is reflected positively on the fiscal revenue realized.
And The coalition of the two Kuwaiti Kuwait Energy and Dragon Oil UAE operations ninth development area (900 square km) under an agreement signed with the Ministry of Oil in January 27, 2013.
Kuwait Energy Company share and a 70 percent of the contract value, while Dragon Oil owns the remaining section of it, and the profitability of the value of a coalition of US $ 6.24 for each barrel.
But it was amended on Development held last September 30 when the Egyptian Petroleum Corporation bought a 10% share of Kuwait Energy Company.
[You must be registered and logged in to see this link.]
