By NNN-KUNA
Baghdad : Iraq will increase crude oil production from the giant Majnoon oil field in the south of the country to 100,000 barrels a day, the Iraqi Oil Ministry said in a statement.
An Iraqi source from the oil ministry said a company working for the ministry is near the end of developing the second stage of the southern oil refinery project.
The statement Thursday said the first stage of the project was completed in 2003 when output production levels reached around 50,000-60,000 barrels.
Production would be increased as a result of importing new equipment, controlling systems, pipelines, electrical devices and various other purchases, the statement noted.
Oil giants Total SA (TOT) and Chevron Corp (CVX) recently submitted to the Iraqi Oil Ministry a study on the development of Majnoon. The two companies have started preparatory work on the development of hydrocarbons from Majnoon.
Total and Chevron signed an agreement last year over Majnoon which has estimated total reserves in place of 12 billion barrels.
Earlier, the ministry said in a different statement that production from the field, located near the border with Iran, currently stands at 50,000 barrels a day.