PetroChina takes over as West Qurna 1 operator
Iraq's second-largest oil field has a new operator as ExxonMobil moves forward with an agreement to exit the project.
Representatives of PetroChina and Basra Oil Company attend a ceremony to take over operatorship of the West Qurna 1 oil field from ExxonMobil on Jan. 1, 2024. (JASSIM AL-JABIRI/Iraq Oil Report)
WEST QURNA - PetroChina has taken over as operator of the West Qurna 1 oil field as ExxonMobil continues a process of exiting the project.
The handover was formalized at a ceremony at the field on Jan. 1.
Despite the American super-major's departure, production is expected to rise dramatically. According to Asaad Abboud, the director of the West Qurna 1 operating authority, capacity is set to increase from 540,000 bpd currently to 740,000 bpd with the installation of a new processing facility this year.
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