The giant onshore field, which has been producing since 1954, is still left with an estimated 17 billion barrels of recoverable oil reserves.
The Rumaila field is operated by Rumaila Operating Organisation (ROO), an unincorporated joint venture between the state-owned Basra Oil Company (BOC) (formerly South Oil Company of Iraq), BP, PetroChina, and the State Oil Marketing Organization (SOMO) of Iraq.
Since ROO became the new operator in 2010, the field has produced more than four billion barrels of oil, with daily output level increased by 40% as of June 2019. Development options are available to raise the output beyond 2Mbopd level, subject to increase in international oil prices and withdrawal of forced production cuts by the Iraqi Government.
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