Erbil (NINA) – Kurdistan Region’s Ministry of Natural Resources announced that it has concluded an agreement with Exxon Gulf Oil Company to develop Sheekhan oil field.
A statement issued on Saturday, June 29, said that the Region’s Government ratified Agreement by which the British Gulf Exxon carry out a plan to develop Sheekhan oil field.
It added that during the coming weeks, production will be 40 thousand barrels to increase up to 150 thousands during the coming 3 years.
The statement went on saying that the plan is by 2018 production reaches 250 thousand barrels a day.
According to the statement, the Region is planning to increase its oil production to reach 1 million barrels a day by the year of 2015 and to reach 2 million barrels a day by the end of this decade. / End