Exxon eyes raising W.Qurna output to 2.325 mln bpd - News

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Exxon eyes raising W.Qurna output to 2.325 mln bpd

By: AFX | 05 Nov 2009 | 07:56 AM ET

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BAGHDAD, Nov 5 (Reuters) - A consortium led by Exxon Mobil plans to raise output on Iraq's giant West Qurna field to 2.325 million barrels per day from less than half a million bpd at present, the Iraqi oil minister said on Thursday. Oil Minister Hussain al-Shahristani also said the consortium, which beat three rival groups to clinch the contract to develop the field, plans to pump in as much as $50 billion over six years into the project. There was no confirmation of the investment figure from the Exxon Mobil executive present at the signing ceremony in Baghdad. (Reporting by Muhanad Mohammed; Writing by Deepa Babington) Keywords: IRAQ OIL/QURNA (deepa.babington@thomsonreuters.com; + 39 06 8522 4369; Reuters Messaging: deepa.babington.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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