Output at the West Qurna oil field in Basra has increased by 26% since March, reaching 347,000 barrels per day (bpd), according to AKnews.
Madi Abdul-Razzaq, director of the operations committee said: “We have a number of new projects to increase production to 400,000 bpd by the end of 2011. The increased production in West Qurna is a result of drilling new wells and rehabilitating old ones.”
“The project’s management has ordered the drilling of dozens of new wells in the near future.”
The Southern Oil Company announced earlier that the increased production at West Qurna will increase the size of the annual financial allocation of Basra province by $100,000 a day.
ExxonMobil and Shell have the contract to develop the West Qurna field.
West Qurna oil field is about 110 km north of Basra, and it is the largest oil field in Iraq. Oil was first extracted from it in 1973, and according to the estimates of experts it contains oil reserves of 24 billion barrels.