A consortium led by China National Petroleum Corp. and U.K. oil major BP PLC plans to increase crude oil production from the field by 10% by the end of this year.
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The latest Rumaila business news – BP, CNPC, the Rumaila Oil Contract and more – brought to you by Iraq Business News
Chinese firm Daqing and a joint venture between Schlumberger and the state-owned Iraq Drilling Co are each being awarded contracts to drill 21 new wells, while Weatherford International was awarded seven new wells.
BP and partner CNPC have awarded $500 million drilling contracts to raise production from the Rumaila oil field.