Final Phase of Giant Iraqi Oil Field Comes On Early

摘要

PetroChina has brought a major new development project at Iraq’s 4.1 billion barrel Halfaya field on stream 70 days ahead of schedule, which should raise the Opec country’s output capacity by around 200,000 barrels per day within six months. The third development phase at Halfaya, located in Iraq’s southern Maysan province, near the border with Iran, was one of the biggest upstream projects that Baghdad sanctioned last year and is a key element of its plan to hike output capacity to more than 5 million b/d in the short term (IOD Aug.7’18). It is well-timed, coming just weeks before tough US sanctions that target Iran’s energy sector and have already hammered its crude exports take effect (IOD Sep.4’18).