One of world's largest oilfields
* Experts expect slow start amid political uncertainty
(Adds details, background)
DOHA, Dec 7 (Reuters) - China National Petroleum Corp (CNPC) expects to begin
work on Iraq's huge Rumaila oilfield imminently, the company's vice president
said on Monday.
Work would start "very soon" on the field, Zhou Jiping told Reuters on the
sidelines of a conference in Doha.
Last month, oil major British Petroleum Plc (BP.L)
and China's CNPC signed a 20-year development contract for Rumaila, one of the
world's biggest oilfields.
The contract, in which BP has said it would invest $15 billion, is Iraq's
first major oil deal since the 2003 U.S. invasion.
Energy experts have said they expect BP and CNPC to be slow to pour funds
into Rumaila, partly because of uncertainty over the outcome of Iraq's
parliamentary elections in January.
Rumaila, with 17 billion barrels in estimated crude reserves, is the
workhorse of Iraq's oil industry, producing almost half its total output of 2.5
million barrels per day.
The field's reserves alone are bigger than those of the whole of Algeria, a
fellow member of the Organization of the Petroleum Exporting Countries
(OPEC).
BP and its Chinese partner expect to increase Rumaila's output to 2.85
million barrels per day.
The field is located in the southern part of the country. (Reporting by Luke
Pachymuthu; Writing by Raissa Kasolowsky; Editing by Inal Ersan and Anthony
Barker)
CNPC to start Iraq Rumaila oil work very soon - Source