Fundamentally, BP is here to improve Rumaila – both now and for the long-term – and that also means transferring our knowledge of managing super-giant oilfields to the next generation of Iraqi industry leaders, so that they can continue to deliver for Iraq.
Finally, I’d reiterate the need to view performance in terms of how efficient an operation functions. Rumaila managed to increase production in 2016 to 1.411 million barrels per day, despite a significant cut in budget. How did we do this? By building on investment made in previous years, by reshaping the business and by looking how we could ‘do more with less’ – a mantra now prevalent across BP operations across the world.
Nawar Abdulhadi: What is your main interest at the Iraq Petroleum Conference?
Zaid Elyaseri: The themes discussed are issues which resonate with everybody in the industry. My view is that all businesses thrive by building strong relationships and partnerships, so it is always beneficial to meet with counterparts who work in different parts of Iraq. Conferences such as the Iraq Petroleum are an opportunity to listen, reflect and engage with people who want to make our sector a success.
Nawar Abdulhadi: What is the outlook for Iraq as a global player in Oil & Gas?
Zaid Elyaseri: The outlook is very positive. The country has increased production by overall a million barrels per day in little over two years – a phenomenal increase.
Clearly, OPEC will have a large say in the rate of growth in the coming years, but Iraqi oil production is well-placed to continue to reap the benefits from the investment made between 2010-2015 and increase its impact on the global stage, and arguably its share of the global market.
Zaid Elyaseri will be speaking at Iraq Petroleum on 23rd May 2017 during Session 2: Iraq’s Oil & Gas Operators: the Value of Partnerships in Developing Energy for Iraq’s Future Generations.
Comments are closed.