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FINANCIAL NEWS
Exxon aims to double efforts in Iraq oilfield
28 Sep 2010
(MENAFN) ExxonMobil and its partner Royal Dutch Shell plan to more than double the number of new wells in Iraq�s West Qurna Phase One to reach its projected production target, Reuters reported.
Exxon aims to drill two to three times the current 370 wells in the field as part of its development plan for West Qurna to reach plateau output of 2.325 million barrels per day, said ExxonMobil Iraq Vice President James Adams.
In order to reach the output target, the company needs to drill two to three times the number of wells that are already there, Adams told reporters on the sidelines of an industry event.
Asked how many wells the firm will be able to drill this year, he said, a handful, adding that at this stage the companies are still evaluating the field.
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