Iraq inaugurates Majnoon field with a capacity of about 200 thousand b / d

The field already produces about 50 thousand barrels per day, but it was closed in June 2012 at the request of Shell for the purpose of implementing the rehabilitation of surface facilities.

Shell began experimental production of Majnoon field last month, located in Basra province, the center of Iraq’s oil industry.

The Minister of Oil, Abdul Karim al-Laebee said in the inauguration ceremony of the field, which was attended by "Shafaq News" that “the field will increase Iraq’s oil exports by about 200 thousand barrels per day.

Iraq, the second largest producer in OPEC expects to increase production by 400 thousand barrels per day by the end of this year and Majnoon field to contribute in a large part of the increase.

Baghdad has signed a contract with a consortium of Shell and Petronas of Malaysia in January 2010 to develop the field as Shell owns the largest share of 45 percent of the project, while Petronas holds 30 percent and the rest is to the Iraqi company owned by the state.

The field production was determined originally by 1.8 million barrels of oil per day, for six years of the contract after signing it, but the government has sought in recent months to reduce it to reach peak production in many fields, including Majnoon field in order to extend the level of production.