BP to invest $2.85bn in Rumaila

By John Lee.

BP has reportedly allocated $2.85 billion to develop the Rumaila oilfield in 2013, up from $2.2 billion last year, of which only $1.9 billion was used.

Salah Mohammad, head of the joint management committee for the project, also told Reuters that output at Rumaila would rise to 1.450 million bpd by the end of 2013 from around 1.4 million bpd now.

Rumaila, which BP operates with China’s CNPC, has estimated reserves of around 17 billion barrels and produces the bulk of Iraq’s total output of more than 3 million bpd now.

(Source: Reuters)

One Response to BP to invest $2.85bn in Rumaila

  1. Fayyad January 27, 2014 at 5:36 pm #

    The text inteded to be Arabic in the picture is all wrong, typos, backwards, and wrong script.
    Quite insensitive really.