Shahristani Updates on Oil Targets

By John Lee.

Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), has said the company is on track to pump 3.7 million barrels a day of crude by the end of the year.

He told a conference in Dubai:

"Iraq will easily pass 3.5 million barrels a day before the end of the year and should hit 3.6 million-3.7 million by year end ... The Majnoon field will produce almost 200,000 barrels a day by the end of the year."

International oil companies will also be invited to bid for a contract tendered under a "new model" to develop the giant Nassiriyah oil field, and build a new refinery at the site.

(Source: AMEinfo)