Halfaya Output to Rise in 2012

Output at Iraq’s Halfaya oilfield will rise to 70,000 barrels a day in 2012 with the drilling of 48 wells, As Sabah newspaper said on Tuesday.

Bloomberg reports that two projects valued at a total of $187 million will be built next year at the oilfield. The projects include a crude oil processing facility with a capacity of 100,000 barrels a day, and a pumping station to increase export capacity.

Total, CNPC and Petronas are developing Halfaya after signing a contract last year. CNPC has a 50 percent share in the project with Total and Petronas owning 25 percent each.

(Source: Bloomberg)

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