Zubair cuts production target by 30%

Italy's Eni announced Monday it has signed an amendment to its Zubair contract, reducing the production plateau target from 1.2 million barrels per day (bpd) to 850,000 bpd.

The contract for the 4 billion barrel Zubair field, in Basra province, has also been extended by five years to 2035, according to an Eni statement.