Shell to Ramp Up Majnoon Output

29 March 2010 (Last Updated March 29th, 2010 18:30)

Shell said it aims to increase production at its Iraqi Majnoon oilfield by 2012. The oilfield is currently producing 45,000boepd, which Shell aims to boost to 175,000boepd. Earlier this year, Shell and Malaysia's Petronas signed a contract to develop Iraq's largest oilfield.

Shell said it aims to increase production at its Iraqi Majnoon oilfield by 2012.

The oilfield is currently producing 45,000boepd, which Shell aims to boost to 175,000boepd.

Earlier this year, Shell and Malaysia's Petronas signed a contract to develop Iraq's largest oilfield.

Royal Dutch Shell New Business LNG vice-president Mounir Bouaziz said that the eventual production target is 1.8 million bpd.

The Majnoon oilfield is estimated to hold 12.6 billion barrels of oil and is considered one of the biggest oilfields in the world.

Iraq has a 25% stake in the project, while Shell and Petronas hold 45% and 30%, respectively.