Italian oil firm Eni has met with Basra’s deputy governor to discuss the technical and legal details related to the firm’s investment in the al-Zubair oilfield.
Eni recently signed an agreement with the Iraqi Ministry of Oil to develop the field, which boasts reserves of 4 billion barrels, and now the company is expected to thrash out further details.
“The meeting has also tackled the company’s ability to provide 10,000 job opportunities for Basra’s residents,” according to a statement released by Basra’s media department and received by Aswat al-Iraq news agency.
The oilfield currently has a production capacity of 195,000 barrels of oil per day but this is expected to be increased to 1.125 million barrels per day in the coming years. Basra is a Shiite province and lies 590km south of the Iraqi capital Baghdad.
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