Key Industry Developments Discussed at Iraq Mega Projects 2011

Oct. 26, 2011 - PRLog -- Senior executives and industry experts gathered at the three day conference and seminar Iraq Mega Projects 2011 hosted by The CWC Group at the Ritz Carlton, Istanbul between the 18-20 October 2011. Focusing on the recent developments of Iraq’s oil and gas fields, water projects drilling activates, infrastructure growth and corporate social responsibility the event proved to be a great success.

H.E. Thamir Gadhban Chairman of the Advisory Commission to the Iraqi Prime Minister Iraqi Government, stated at the conference “Iraq is now producing 2.9 million barrels of crude oil a day and could reach approximately 3 million barrels a day by the end of October” also commenting Iraq’s output has increased mainly from three super giant producing oil fields, Rumaila, West Qurna Phae 1 and Zubair, which are being developed by consortiums led by BP PLC, Exxon Mobil and Eni SpA.

To improve infrastructure and develop the oil fields BP PLC, Exxon Mobil and Eni SpA will spend $100 billion across the three oil fields, $50 billion on upgrades to the West Qurna Phase 1 field and the remaining $50 billion on upgrades to the Rumaila and Zubair oil fieldsm which will support the consortiums target to produce 6.8 million barrels a day by 2017.

Proving to be one of the highlights of the event, project led roundtable discussions led by contract holders Statoil, ExxonMobil, Petronas, Sonangol, Eni and Lukoil gave delegates the opportunity to discuss key challenges and opportunities faced in the development of Iraq’s oil and gas fields.

With the conference room full until the end of the last session, delegates showed enthusiasm in discussing the challenges, solutions and future opportunities for Iraq’s oil and gas infrastructure.

Iraq Mega Projects 2011 industry support to date Includes: Caterpillar, Iratrac, Unatrac, Emerson, Lakeshore TolTest, Olive Group, ExxonMobil, Statoil, Total, Oxy, Techint, OIEC, ACT, Exterran, Unaoil Group and Petronas.

For further information visit: www.cwcimp.com

# # #

The CWC Group works with over 30 governments, OPEC, the World Bank and numerous non-profit making associations providing public relations events and publications to promote private-public co-operation.