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The Iraqi oil ministry is also close to finalizing lower plateau targets for both the Rumaila and Majnoun oil fields with BP and Shell, respectively; though negotiations with ExxonMobil are ongoing for what will be a very large cut in the original target for West Qurna-1.
In the meantime, Iraq has made a major oil discovery at the Sindbad field with initial estimates of some 7bn barrels of oil in place.
Iraqi Oil Minister ‘Abd al-Karim al-Laibi, speaking to reporters at length on the sidelines of the 4 December OPEC meeting in Vienna, outlined the latest work to expand export capacity at southern ports in order to absorb the 500,000 b/d of additional crude oil that is expected to come from southern fields next year, mainly from Majnoun, West Qurna-2 and the delayed Badra oil field. (CONTINUED - 1855 WORDS)
DATA INSIDE THIS ARTICLE
|table||Iraqi Oil & Gas Data^ (‘000 b/d), October & November 2013|