Iraq has signed a deal with Petrofac worth $369 million for the construction of a new crude-processing plant in the giant Majnoon oilfield, Reuters reported.
The plant, expected to have a capacity of 200,000 barrels per day (b/d), should be completed in 34 months, Ihsan Abdul Jabbar, head of the state-run Basra Oil Company, said.
The Majnoon field is currently producing 230,000 b/d, which is slated to rise to 450,000 b/d by the time the plant is operational.
Iraq is also planning to offer a new service tender for the drilling of 80 new wells in the oilfield, as a part of a development project to boost Majnoon’s production levels.
Shell pulled out of its operations in the Majnoon field in June and handed its stake over to the Basra Oil Company.