Shell Oil, in cooperation with South Oil Company (SOC), Petronas and Missan Oil in Southern Iraq announced that the Majnoon oilfield has successfully exported its first shipment of crude oil. The oilfield now produces almost 210,000 barrels of oil daily.
Vice President of Shell in Iraq commented on the progress stating, “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 Majnoon’s long-term journey toward generating further revenue for Iraq’s economy, and as an investment in Iraq’s future.”
The recent shipment marks a significant milestone for the oilfield, just 8 months after Majnoon production was restarted by the partners following major overhauls which included clearing war munitions, upgrading safety standards, and building a greenfield central processing plant to allow for increased capacity.
The oilfield currently employs 300 Iraqis and has created nearly 2,850 jobs for Iraqis in related industries in the surrounding communities.
For the original April 7, 2014 piece from Oil & Gas Journal referenced in this summary, click here.