iMetal

The Rumaila oil field is one of the largest oil fields in the world. It is located near Basra and about 20 miles from the Kuwaiti border in southern Iraq. It is spread over a 1,800km² area and is owned by Iraq.

In November 2009, BP and CNPC consortium signed a $15bn service contract with Iraq’s South Oil Company, for the development of the field. As per the contract, BP holds a 38% stake, and CNPC and State Oil Marketing Organisation (SOMO) hold a 37% and a 25% stake in the field respectively.

The expansion project will be managed by Rumaila Field Operating Organization (ROO), a joint venture between BP, CNPC and SOMO.