Capacity at Iraq’s West Qurna-1 oilfield (WQ-1: PetroChina 32.7%op, Basra Oil 22.7%, Pertamina 20%, Itochu 19.6%, Oil Exploration Co 5%) will increase by 200,000 b/d by the end of this year, according to Basra Oil CEO Bassem Abdulkareem.
PetroChina, the listed arm of Chinese state giant CNPC, took over as WQ-1 operator in early-2024 with ExxonMobil’s exit (MEES, 5 January 2024) and Iraqi officials credit the Chinese state firm with a 50,000 b/d capacity hike to 550,000 b/d. The jump to 750,000 b/d is to be achieved by adding two new 100,000 b/d oil-gas separation stations – dubbed OT2 and OT3, with the partners targeting 800,000 b/d by end-2028. (CONTINUED - 224 WORDS)
