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On July 1, the operational management of Iraq's Rumaila project was officially transferred to Rumaila Field Operating Organization (ROO), a consortium led by CNPC, BP and Iraq's South Oil Company.
On July 3, BP, CNPC and Iraq's South Oil Company held a ceremony at Basra on the operational management transferring of the Rumaila Oilfield. More than 130 representatives from the three companies as well as from Iraqi government, the oil ministry and concerned sectors of the community attended the ceremony, which marks the consortium's official taking over of the oilfield and the commencement of oilfield operations.
Average daily output of Rumaila Oilfield is currently maintained at 1.03 million barrels, and is expected to be increased by 10% at 1.17 million barrels by the end of the year.
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