Export dip to yield massive expansion

A new offshore platform will be the cornerstone of Iraq's revitalized southern export infrastructure, though its installation is causing a temporary drop in exports.
Tankers dock at the Al-Basra Oil Terminal, the principal export point for Iraqi oil. (BEN LANDO/Iraq Oil Report)

BASRA - An old, sunken gunboat was recovered from the Basra Gulf in early September, towed from the waters near the al-Basra Oil Terminal (ABOT) to an area where its torpedoes could be safely removed. The salvage operation took about eight hours and shut in about half a million barrels of exports.

The boat's wreckage was in the way of a new 11,000-ton oil metering platform, a key part of the Iraqi Crude Oil Export Expansion project (ICOEE) to increase exports out of the Basra Gulf from an average 2.19 million barrels per day (bpd) through August this year to more than 5.5 million bpd in 2014.

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