BP Says Output at Rumaila Now Allows It to Earn Profit on Field
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BP Plc, Europe’s second-biggest oil company, said output at Rumaila has increased enough for the explorer to start making money from the field in southern Iraq.
Production has increased more than 10 percent from the 1.066 million barrels a day initial rate agreed in December 2009, BP said today in a statement in London. BP is the lead contractor in Rumaila Operating Organization, with PetroChina Co. and Iraq’s state-owned South Oil Company as partners.