The world’s most profitable company was the first of two American international oil companies (IOCs) to win an oil field contract with the Iraqi government. Now, leading a consortium that includes Royal Dutch Shell and Iraq’s Oil Exploration Company and South Oil Company, Exxon has boosted production at West Qurna 1 by over 10 percent, triggering its first payday.
The newly formed West Qurna 1 Field Operating Division will effectively run the field for the next 20 years, ultimately aiming to boost its output to 2.825 million barrels per day (bpd). The work has just gotten started, and James Adams, vice president of ExxonMobil Iraq, is leading the effort.
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