Iraq's second-highest producing firm, the state-owned Missan Oil Company (MOC), is set to increase from its current 430,000 barrels per day (bpd) in the coming months as the Amara and Nur fields resume production following compliance with OPEC-plus output cuts.
That will provide another 30,000 bpd following a rehabilitation program, said MOC’s Director General Ali Jassim Hammoud.
The company’s target is to increase production capacity from the Missan fields, including the giant Halfaya field, to 1 million bpd once investments are secured to further develop existing fields, discovered but undeveloped fields, and new discoveries.
The main contractors of the Missan fields are China's CNOOC and PetroChina, which are implementing plans to expand oil production capacity and installing infrastructure to gather and treat associated gas as part of the effort to reduce flaring and provide gas feedstock to Iraq’s power plants.
A full transcript of the interview is available below to Iraq Oil Report subscribers.