Shell imports first crude shipment from Iraqi oilfield

crudeoil A Train flickrThe Majnoon oilfield's production figures have exceeded the original target of 175,000 bpd. (Image source: ATRain/Flickr) Royal Dutch Shell's Majnoon oilfield in Iraq has exported its first shipment of crude oil, with production reaching an average of 210,000 bpd

Hans Nijkamp, vice president of Shell in Iraq, said, “This is a historic event for Iraq’s energy industry. The lifting of Shell’s first oil shipment from Majnoon has great significance to us and our partners in the government as it is a testimony to our shared progress and signals the start of Majoon’s long-term journey toward generating further revenue for Iraq’s economy, and as an investment in Iraq’s future.”

The Majnoon oilfield is operated by Shell in partnership with South Oil Company (SOC), Petronas and Missan Oil in southern Iraq. The production figure is has reportedly exceeded the initial 175,000 bpd 'First Commercial Production' target, which initiates the commencement of cost recovery. Reports added that this target was achieved after extensive rehabilitation works at the Majnoon oilfield.

Shell and its partners began production from Majnoon in September 2013 following the completion of major overhaul works, including 28 sq km of mine clearance, extensive refurbishment of brownfield facilities to meet safety standards, and the construction of a new greenfield central processing facility – the largest to be built in Iraq in the last decade – to allow for increased production capacity. Material for the oilfield was shipped to the field via the historic Shatt al-Arab waterway, which had previously been closed to commercial transport for 31 years.

Shell has stated that 18 new wells have been drilled and the project has created more than 2,850 jobs in Iraq.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?