Reuters reported that Iraq’s Zubair oilfield expects that it will reach its peak output target of 1.2 million barrels per day by the start of 2017.
The market news is quoted as saying:
The Zubair deal is one of a series that Baghdad has signed with foreign oil firms that it says could boost output capacity to Saudi Arabia’s levels of 12 million bpd by 2017.
The news also highlightd:
Eni, the operator of Zubair, plans to spend $2.8 billion in 2011, $4.9 billion in 2012, $3.9 billion in 2013 and nearly the same in 2014, and $3.1 billion in 2015, the document showed.