Since being awarded a contract for for developing the Rumaila oilfield in Iraq, Bp (NYSE:BP) said the project is progressing nicely, and the higher amount of activity at the location has been happening since they won the contract in June of 2009.
BP said they're focusing on increasing production at the wells already being operated, while also opening up new wells. Also targeted is the infrastructure surrounding the project, where flowlines are being checked and other elements examined to ensure a strong flow once production reaches higher levels.
Estimated reserves at Rumaila are about 17.8 billion barrels of oil, which are being developed by BP and its Chinese partner, CNPC.
Production at this time is about 1 million barrels on a daily basis.
Showing posts with label CNPC. Show all posts
Showing posts with label CNPC. Show all posts
Thursday, November 4, 2010
Saturday, March 6, 2010
Iranian Company Buys Chinese Oil Rigs
Iran Oil Rig Deal with China
China is the beneficiary of an order of an oil rig from Iran, valued at $143 million for the overall contract.
The North Oil Drilling Company, a state-run Iranian firm, also said it has orders for two more from the Chinese state energy group CNPC.
If the contract is fulfilled on time, the oil rig should be delivered sometime in the next eight months or so for use in oil and gas fields in the Persian Guld, said North Oil Drilling Company head Hedayatollah Khademi.
Iran Oil Rig Deal with China
China is the beneficiary of an order of an oil rig from Iran, valued at $143 million for the overall contract.
The North Oil Drilling Company, a state-run Iranian firm, also said it has orders for two more from the Chinese state energy group CNPC.
If the contract is fulfilled on time, the oil rig should be delivered sometime in the next eight months or so for use in oil and gas fields in the Persian Guld, said North Oil Drilling Company head Hedayatollah Khademi.
Iran Oil Rig Deal with China
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