TPT November 2008

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Oil & Gas News
November 2008 64 ›
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The Chinese company will provide technical advisers, oil workers,
and equipment to develop al-Ahdab oil field, providing fuel for
the al-Zubaidiya power plant in Wasit, southeast of Baghdad,
bordering Iran, Mr Jihad said. Once development begins, the field
is expected to start producing at the rate 25,000 barrels per day of
oil, and at an estimated constant rate of 125,000 bpd after three
years.
Iraq currently produces about 2.5 million barrels per day, 2 million
bpd for export, Mr Jihad said. That is close to levels before the
US-led war that toppled Saddam in 2003, but below the levels prior
to the Persian Gulf War in 1991.
Iraq’s Cabinet must approve the contract, but Mr Jihad told CNN
World News that this would happen soon and work could start within
a few months.
Elsewhere in oil and gas . . .
■ The Organization of Petroleum Producing and Exporting
Countries (OPEC) announced 12 September that Indonesia has
officially left the group. The withdrawal, which former Indonesian
oil minister and OPEC secretary general Subroto said originated
with Jakarta, not the organization, was taken out of differences
over the price of crude oil. “OPEC wants a high oil price, while
Indonesia wants a lower price,” Subroto told Reuters. “That is
the reason for Indonesia’s withdrawal.”
In a statement, OPEC said it “regretfully accepted the wish of
Indonesia to suspend its full membership” and expressed a
hope that the Asian nation, a net importer of oil in recent years,
would rejoin the organization.
Photo courtesy of Radyne