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Exxon ups oil target for Iraq's West Qurna Phase 1

Mission accomplished! Exxon ups oil target for Iraq's West Qurna Phase 1 28 Nov 2010 U.S. major ExxonMobil and its partners raised their production plateau target from Iraq's West Qurna oilfield to 2.825 million barrels per day after adding new reserves to the area covered by their original development contract, an Iraqi oil official said on Sunday. The original plateau target when the contract was signed in January was 2.325 million bpd in six to seven years time, but the Exxon-led consortium agreed with Iraq to add four undeveloped reservoirs, Madhi Swadi, a member of the joint management committee that runs the field, told Reuters.