Italian oil company ENI, amended its Technical Service Contract with Iraq’s South Oil Company and the country’s Ministry of Oil for the development of the Zubair Oil Field.
The Amendment sets a new production target of 850,000 barrels of oil per day, and also extends the duration of the Technical Service Contract for an additional five years, until 2035.
The Technical Service Contract for the giant Zubair Oil Field was awarded in 2010 as a result of Iraq’s first bidding round, with a production plateau target of 1.2 million barrels of oil per day. The Zubair field is located near Basrah and is regarded as one of the largest oil fields in Iraq.
Eni is the Lead Contractor of a consortium which includes Occidental Petroleum Corporation, Korea Gas Corporation and Missan Oil Company.
