Wednesday , September 30 2020

Taqa says July oil output from Kurdistan exceeds 1m barrels


Abu Dhabi National Energy Company PJSC (Taqa) announced that its subsidiary, Taqa Atrush BV (Taqa Iraq), has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume exceeded 1 million barrels of oil in July 2019.
The 1 million barrel mark is a key milestone in Taqa Iraq’s ongoing production improvement and expansion plans for the Atrush block and is a testimony to the effort, professionalism, and commitment to deliver safe and efficient operations in Iraq.
The current rate of gross production at the Atrush block is approximately 34,000 barrels of oil per day, which is in line with the company’s targets for Q2. The increase in production was due to new wells coming on stream and the impact of de-bottlenecking work, which has increased the capacity of volumes handled by the production facility. The facility has continued to meet targets at minimal spend and is a result of a focus on integrated planning and optimisation.
Speaking on the milestone, Taqa CEO Saeed Al Dhaheri said, “This significant achievement is a direct result of our Iraq team’s technical expertise and strategic planning efforts. As a global energy player with operations spanning four continents, our operations in Iraq have allowed us to strengthen our expertise as a leading developer of greenfield projects. We look forward to continue to deliver energy to our strategic partners in the Kurdistan region.”
AbdulKhaliq Al Ameri, MD of Taqa Iraq, added: “Our focus for the past two years has been to improve the value of our asset while ensuring cost-optimisation and uphold our commitment to health and safety.”
The Atrush field is located 85 km northwest of Erbil and is one of the largest new oil developments in the Kurdistan Region of Iraq. The field was first discovered in 2011 and production started in 2017.
In its two years of production, the Atrush field has produced of 17 million barrels of oil, with increasing efficiency.

About Admin

Check Also

DFM to launch equity derivatives platform

DUBAI / WAM Dubai Financial Market (DFM) on Tuesday announced that it has reached the ...

Leave a Reply

Your email address will not be published. Required fields are marked *