BP proposes cutting Iraq's Rumaila oilfield output target-sources

December 13, 2012

BAGHDAD, Dec 13 (Reuters) - Oil major BP is close to

reaching a deal with Iraq to cut the final production target for

the supergiant Rumaila oilfield to between 1.8-2.2 million

barrels per day (bpd), oil ministry and oil industry sources


Officials from BP, Iraq's state-run South Oil Co. (SOC) and

the country's oil ministry have been in talks for the past four

months, studying BP proposals to lower the 2.85 million bpd

target they agreed in 2009, the sources said.