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FINANCIAL NEWS
BP allocates USD2.9b to Rumaila oilfield in 2013
23 May 2013
(MENAFN) BP assigned USD2.85 billion to improve Rumaila oilfield located in Iraq during 2013, reported Gulf Daily News citing the head of the joint management committee for the field.
Raising the output from Rumaila is very important for the country to be able to increase oil exports to 6 million bpd by 2017.
USD2.2 billion was the agreed financial amount for the improvement of Iraq’s most prolific oilfield in 2012.
BP is planning to issue three tenders in order to drill 150 new oil wells during the second half of the current year.
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