Shell to Start Iraq Oil Output Amid Plans for Saudi Investments
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Royal Dutch Shell Plc will start producing crude at Iraq’s Majnoon oil field as early as next month and plans to increase energy investments in Saudi Arabia, its regional vice president said.
Output from Majnoon, one of Iraq’s largest oil fields, will start “around mid-year” and increase to 175,000 barrels a day by the end of 2013, Mounir Bouaziz said in an e-mailed response to questions. In Saudi Arabia, Shell is holding talks with officials on a project to develop natural gas from the kingdom’s Kidan field in the Rub al-Khali, or Empty Quarter, he said.