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ExxonMobil Exits Southern Iraq West Quurna 1 Oilfield

OIL

ExxonMobil has formally exited the West Quurna 1 oilfield in southern Iraq and handed over operations to PetroChina as lead contractor according to Reuters reports.

  • PetroChina holds the largest stake in the field after the departure of Exxon.
  • West Qurna 1 currently produces around 550,000 bpd.
  • Iraq and PetroChina plan to boost production to 600,000 bpd at the end of 2024.

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