UPDATE 1-Iraq sees extra 100,000 bpd from Rumaila

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Sat Jan 30, 2010 1:08pm GMT

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BAGHDAD Jan 30 (Reuters) - Iraq's supergiant Rumaila oilfield will begin producing an extra 100,000 barrels per day (bpd) by the beginning of July, the head of the State Oil Marketing Organisation (SOMO) said on Saturday.

Oil major British Petroleum Plc (BP.L) and China's CNPC signed a 20-year development contract last year for Rumaila, which has 17 billion barrels of estimated crude reserves and is the workhorse of Iraq's oil industry.

"I expect we will get 100,000 barrels additional production from Rumaila field at the beginning of July," Falah Alamri told an economic conference in the Iraqi capital.

CNPC's vice president said in December that he expected to begin work on Rumaila "very soon". [ID:nGEE5B60U0]

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 bpd. Iraq and the two firms agreed that the field had a baseline production of 1.066 million bpd. Rumaila has an API gravity 26 degrees and 28-32 degrees. (Reporting by Ahmed Rasheed)

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