Posts Tagged ‘Parsons’
9 March 2005
Almost two years after the US-led war ousted the Baath regime, Iraq is still struggling to meet prewar production levels at its dilapidated oil fields.
Iraq’s southern oil fields, which accounted for the majority of prewar production of 2.8 million barrels per day, are currently managing just 1.85 million b/d — and even this rate is causing great distress to reservoirs, Iraq’s interim Oil Minister Thamer al-Ghadban said Tuesday.
Iraq’s oil ministry has been allocated a $3 billion budget in 2005 to restore former production and raise …