Wednesday, December 8, 2010

Eni Achieves Key Production Milestone in the Zubair Field, in Iraq

Scandinavian Oil-Gas Magazine, December 7, 2010
The production rate from the field has increased from approximately 183,000 barrels of oil per day, the initial production rate on the Technical Service Contract (TSC) effective date of 18 February 2010, to a sustained rate of appreciably over 201,000 barrels of oil per day (the minimum required production rate to trigger cost recovery). With this successful increase in production, the consortium's contract cost recovery commences, with the group additionally earning a Remuneration Fee of $2 per barrel on incremental oil production...The consortium plans to increase production from the Zubair field to 1.2 million barrels of oil a day. More

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