BP and partner PetroChina finally concluded a new, lower plateau production target (PPT) for their giant Rumaila project on 4 September. Gazprom has also finalized a new, lower, PPT for its Halfaya field.

A spokesman for BP, operator of Rumaila, Iraq’s largest oil field, confirmed that a final agreement on lowering PPT for Rumaila had been signed in the presence of CEO Bob Dudley on 4 July. The plateau has been revised down to 2.1mn b/d from a previous 2.85mn b/d, originally scheduled for 2017. (CONTINUED - 959 WORDS)