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FINANCIAL NEWS
Taqa to commence oil production in Iraq
11 Nov 2013
(MENAFN) Abu Dhabi National Energy Company (Taqa) is planning to commence production at its oilfield in northern Iraq by the end of next year, Times of Oman reported.
The state-run firm estimates that production will start at 30,000 barrels per day at the Atrush oilfield, and increasing the output by the same amount in each phase of development.
The company’s president for Iraq operations said that the oil produced will be sold at international prices, at a discount to the North Sea Brent grade since the oil has high sulfur content.
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