Eni, Partners Reaches Key Production Target at Zubair Oil Field in Iraq

Eni SpA has reached a key production target at its Zubair oil field in Iraq.
Production at the field near the city of Basra has increased to 201,000 barrels a day from 183,000 when Eni and its partners took over management of the field in February, the Rome-based company said in an e-mailed statement.
“With this successful increase in production, the consortium’s contract cost recovery commences, with the group additionally earning a remuneration fee of $2 per barrel on incremental oil production,” Eni said.
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Source: Bloomberg