15 October 2009
Eni awarded license for Zubair giant field in Iraq
Eni was awarded the license for the development of the Zubair giant field in Iraq this week, following a successful first-round bid. Zubair, one of the largest Iraqi oil fields, currently produces 195,000 barrels of oil per day.
The license has been awarded to an Eni-led consortium, consisting of the US Occidental Petroleum Corporation and Korea Gaz Corporation.
In the next seven years, under the field’s expansion program, production is expected to reach a plateau level of 1.125 million barrels of oil per day. The project includes the drilling of more than 200 wells, the construction of treatment facilities and the required collection network, as well as the refurbishment of the existing plants.
The service contract will last 20 years and can be extended to 25. It also includes the participation of Iraqi state company, Southern Oil, with a 25% share.
The award of the explorative license for the Zubair field strengthens the long-term collaboration between Eni and Iraq, which dates back to the 1970s.
For related information, go to www.isa.org/productivity.