Media ININ Economy We Trust
Abu Dhabi 21-08-2019
Abu Dhabi National Energy Company (TAQA) announced that TAQA Atrush BV (TAQA Iraq) has set a new record for its production from the Atrush oil field in the Kurdistan Region of Iraq, as it is the first time since the start of production operations in the field in July 2017 exceeded the total monthly production volume Million barrels of oil in July 2019.
Atrush’s current total oil production is around 34,000 barrels per day, in line with the company’s second-quarter targets for 2019.
The increase in production is largely due to the new wells that have started operating and the impact of the expansion operations that have taken place over the past few months, resulting in an increase in the production capacity of the production facility.
“This milestone is a direct result of the expertise of our Iraqi team and the strategic planning of operations,” he said.
“We look forward to building on this achievement to continue providing energy to our strategic partners in the Kurdistan region and continuing to establish strong relationships with the communities surrounding the Atrush field.”
The mass production is a milestone in the ongoing development and expansion of Iraq’s Ataroush field, a testament to TAQA’s effort, professionalism and commitment to delivering safe and effective operations in Iraq.
In May 2019, TAQA completed its acquisition of an additional 7.5% stake in the Atrush field from Marathon Oil Kurd BV.With this acquisition, TAQA’s stake in Atrush increased from 39.9% to 47.4%, which is equivalent to AED 116 million in addition to the company’s assets.
The Atrush field is located 85 km northwest of Erbil and is one of the largest new oil projects in the Kurdistan region of Iraq and the field was discovered for the first time in 2011 and began production operations in 2017.
