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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.
“We are very pleased to have signed this amendment to the technical services agreement to Rumaila. Under this agreement the Rumaila Operating Organisation plans to raise plateau production by about 800,000 b/d within the next decade to some 2.1mn b/d. And by extending the agreement by five years to 2034 this plateau will be maintained for a longer period,” the spokesman said.
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