Angola’s Sonangol starts work in two oil fields in Iraq

29 March 2011

Luanda, Angola, 29 March – Angolan oil company Sociedade Nacional de Petróleos de Angola (Sonangol) Thursday began working on the Najma (Najmah) and Qaiyara (Qaiyarah) oil fields in the Ninewa region, in Iraq, and is due to start drilling next April, Angolan newspaper O País reported in Luanda.

The paper, which cited a report from the Iraqi authorities, noted that Sonangol had taken part in a public tender launched by the Iraqi government in 2009 to grant oil concessions.

In Qaiyarah, which has known reserves of 807 million barrels, Sonangol aims to produce 120,000 barrels per day, whilst in Najma, which has reserves of 858 million barrels, the production target is set as 110,000 barrels per day.

Iraq’s oil reserves total 115 billion barrels and are the third largest in the world, following those of Saudi Arabia and Iran.

Iraq has not been developing its oil production for the last few decades due to conflicts and an embargo imposed on the country in 1990. (macauhub)