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Shell expects Iraq's Majnoon output at 200,000bpd
- Iraq: Wednesday, November 14 - 2012 at 05:06
Royal Dutch Shell has said Iraq's Majnoon oilfield is expected to hit output above 200,000 barrels per day (bpd) in the third quarter of 2013, above the level needed to start recovering costs, Reuters has reported. Shell and minority partner Petronas of Malaysia, won the Majnoon service contract by promising to boost the largely undeveloped field to 1.8 million bpd for a fee of $1.39 a barrel, though it had started talks with Baghdad this year to reduce the target at the super-giant field to one million barrels per day. Under the contract the consortium should reach 170,000 bpd output, or the 'First Commercial Production' level, to trigger it to retrieve investment costs.
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