West Qurna is one of Iraq's largest oil fields, located north of Rumaila field, 65 km northwest of Basra. , West Qurna was believed to hold 43 Goilbbl of recoverable reserves – making it one of the biggest oil fields in the world. Until 2009, the field was closed to Western firms.[1]
Phases
West Qurna Phase I
In November 2009, an ExxonMobil - Shell joint venture won a $50 billion contract to develop the 9 Goilbbl West Qurna Phase I.[2] As per Iraqi Oil Ministry estimates, the project required a $25 billion investment and another $25 billion in operating fees creating approximately 100,000 jobs in the underdeveloped southern region. ExxonMobil was to increase the production from 0.27 to 2.25 Moilbbl/d within seven years.