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In December Oil Minister Jabbar al-Luaibi called on North Oil Company to “restore its glory” by ramping up output from its current 148,000 b/d to 1.5mn b/d. But putative partner BP is lukewarm on Kirkuk and the return of Angola’s Sonangol to Iraq is unlikely to provide much of a boost.
The Angolan state firm on 2 February officially agreed to return to northern Iraq where it has a 75% operating stake (NOC 25%) at the Qayara and Najma fields (see map). Current output is negligible. but at its peak Qayara produced 20,000 b/d ( MEES, 27 January 2017 ).
Sonangol was awarded 20-year technical service contracts (TSCs) for the two heavy oil fields in Baghdad’s second bid round in 2010. The contract has production plateau targets (PPTs) of 120,000 b/d of 17.1°API Qayara crude and 110,000 b/d of similar-quality Najma. Respective $5/B and $6/B remuneration fees are indicative of the technically challenging development required (MEES, 8 February 2010). (CONTINUED - 864 WORDS)