Bloomberg reports that Malaysia’s Petronas and theJapan Petroleum Exploration Co. (JAPEX) will start producing crude from the Gharraf oil field in southern Iraq by September.
Sattar Mahdi, head of field development, said the field will initially produce about 35,000 barrels a day by the end of the third quarter, gradually increasing capacity to 230,000 barrels a day within five years.
The companies recently drilled four wells in Gharraf and will drill another 13 in the next six months.
(Source: Bloomberg)