ExxonMobil expands production in Iraq

Reuters:

ExxonMobil (XOM.N) and its partner Royal Dutch Shell (RDSa.L) plan to more than double the number of new wells in Iraq's West Qurna Phase One to reach its projected production target, an Exxon executive said on Monday.

Exxon aims to drill two to three times the current 370 wells in the field as part of its development plan for West Qurna to reach plateau output of 2.325 million barrels per day, said ExxonMobil Iraq Vice President James Adams.

"In order to reach the output target, we need to drill two to three times the number of wells that are already there," Adams told reporters on the sidelines of an industry event.

Asked how many wells the firm will be able to drill this year, he said, "a handful", adding that at this stage the companies are still evaluating the field.

Current production is from 200,000 to 250,000 barrels per day, he said. In July, Adams told Reuters the consortium aimed to raise production by 10 percent by the end of the first quarter of 2011.

The initial development plan agreed by Exxon and its partners for the West Qurna Phase One oilfield includes drilling eight new wells and overhauling up to 50 wells this year, an Iraqi oil official said in May.

...
It is too bad they are not allowed to do that kind of exploration and production in the US. With this administration's anti energy policies, it may take an election develop wells here.

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