Exxon Mobil to invest $1.65 bln in Iraq's West Qurna 1-official

BASRA, Iraq, March 25 Mon Mar 25, 2013 8:55am EDT

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BASRA, Iraq, March 25 (Reuters) - Exxon Mobil has allocated $1.65 billion to develop Iraq's West Qurna 1 oilfield in 2013, up from $1.6 billion last year, the head of the joint management committee for the field told Reuters.

Madhi Abdul Razzaq said production from the field would rise to 540,000 barrels per of oil per day (bpd) by mid-2013 from the current 480,000 bpd.

By the end of the year, output will reach 600,000 bpd and in 2015 it will hit 900,000 bpd, he said.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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