By John Lee.
Shell has officially inaugurated Iraq’s huge Majnoon oil field on Sunday, and said it aims to reach 175,000 barrels a day in the coming weeks.
Production from the field’s first well started on 20th September, and Hussein al Shahristani, the Iraqi deputy prime minister for energy, said in Dubai that output is expected to rise to almost 200,000 barrels a day before the end of the year.
Shell owns 45 percent of the venture, with Petronas owning 30 percent, and the Iraqi state holding 25 percent.
They have pledged to eventually raise production to 1.8 million barrels a day.