Exporting oil from Garraf field starts at a rate of 35 thousand bpd

“The exported quantities reached 35 thousand barrels per day (bpd),” The ministry said in a statement received by “Shafaq News”.

The two companies; Malaysia's Petronas and Japanese Japeixwin acontract to develop Garraf field which includes drilling and development of 11 oil wells and production of crude oil up to 50 thousand bpd till the end of 2013.

Petronas owns 45% of the shares of the project in the field, while the share of Japeix is 30% of the project as North Oil Company acquire the remaining share.

The two companies aim to produce 250 thousand bpd by 2017.

The inventory reserves to Garraf field are five billion barrels, but the province said last month that the recent results of the explorations showed that oil reserves reaches 7.5 billion barrels.