BAGHDAD, Nov. 20 (Xinhua) -- Iraq's major oilfield West Qurna 1 plans to increase its crude oil production capacity to a maximum of 670,000 barrels per day (bpd) by 2026 from the current 600,000 bpd, the Iraqi News Agency (INA) reported Thursday.
The development plan, including rehabilitating several wells and increasing drilling activity, reflects ongoing efforts to maximize Iraq's oil revenue for global markets, the INA said.
On Jan. 1, 2024, China's leading oil and gas producer, China National Petroleum Corporation, officially took over from U.S. oil giant ExxonMobil as the lead contractor for the oilfield.
The West Qurna 1 oilfield, about 50 km northwest of Basra, the capital of the namesake province, is one of Iraq's largest oilfields, with an estimated annual crude oil output of more than 25 million tonnes.
