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Iraq's Garraf oilfield is expected to produce a record 200,000 barrels per day (bpd) this year, equity partner Japan Petroleum Exploration Japex said.
"Garraf's production is currently at around 150,000 bpd and is seen to grow to around 200,000 bpd this year," Japex executive officer Yutaka Nishimura told an earnings news conference.
But when asked whether Iraq would be able to increase production while Opec+ is cutting production, he said: "It is difficult to say for sure whether it will work as we intend or not, since there are constraints."
Iraq is committed to voluntary oil production cuts agreed by the Organization of the Petroleum Exporting Countries (Opec) and is keen to cooperate with member countries on efforts to achieve more stability in global oil markets, Iraq's oil minister told the state news agency earlier this month.
The minister's comments followed his earlier suggestion that Iraq had made enough voluntary reductions and would not agree to any additional cuts proposed by the wider Opec+ producer group at its meeting in early June.
Garraf oilfield in southern Iraq, developed by Malaysia's Petronas and Japex, started production in 2013.
It is 45 per cent owned by Petronas, 30 per cent by Japex Garraf and 25 per cent by Iraq's national oil firm North Oil Japex holds a 55 per cent stake in Japex Garraf while state-owned Japan Organization for Metals and Energy Security (Jogmec) holds 35 per cent and Mitsubishi owns 10 per cent.-Reuters