One Billion Barrels of Oil Produced by LUKOIL at West Qurna-2, Iraq
LUKOIL has produced one billion barrels of oil at West Qurna-2, Iraq, since the launch of commercial operation of the field. The landmark achievement has been reached as the company stands on the threshold of its 30th anniversary. Special events on the occasion of the company’s milestone year were attended …
Gazprom Neft expands oil production in the Kurdistan Region of Iraq
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a third production well at its Sarqala field in the Kurdistan Region of Iraq (KRI) Potential production at this new well is estimated at 12,000 barrels per day. Cumulative daily oil production at the field following the commissioning of the Sarqala-3 well has increased by 25 percent reaching 35,000 barrels. The well …
LUKOIL continues successful appraisal drilling at Eridu field in Iraq
LUKOIL and INPEX CORPORATION have successfully completed testing of the fifth well as part of the appraisal phase at the Eridu field (Block 10) in the southern part of Iraq. The well recorded daily flow rate of more than 1,500 cubic meters of oil from the Mishrif formation and proved …
OPEC Daily Basket Price Stood at $65.04 a barrel Wednesday, 6 March 2019
The price of OPEC basket of fourteen crudes stood at $65.04 a barrel on Wednesday, compared with $64.98 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), …
ERIELL Starts Drilling Operations in Iraq
ERIELL, an international oilfield service group, has signed a contract with LUKOIL Middle East for drilling of 25 producing wells at the West Qurna-2 field in Iraq. “Company’s entry to the Iraq market marks the beginning of development of the Middle East region, which we deem extremely promising in terms …
Gazprom Neft Begins Commercial Production and Oil Deliveries From the Badra Field in Iraq
Gazprom Neft, the operator of the Badra oil field in Iraq, announces that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra (Persian Gulf). Current deliveries from Badra to the pipeline stand at over 15,000 barrels of …
Lukoil Ships First Batch of Compensation Oil as Part of West Qurna-2 Project in Iraq
Sea Triumph, a tanker chartered by LITASCO (an international marketing subsidiary of OAO LUKOIL), left the port of Basra in southern Iraq with a load of crude. This is the first batch of oil in reimbursement of the costs incurred by LUKOIL as part of the West Qurna-2 project. The …
Gazprom Neft Begins Exploratory Drilling in Kurdistan
Gazprom Neft has begun drilling an exploration well at the Shakal block in Kurdistan (Iraq) and is soon to commence drilling on a second exploration well. The project will study two oil reservoirs in the Shakal block including flow testing. Well testing will be completed by late 2014 / early …
Gazprom Neft: Deliveries Begin to Oil Reservoirs at the Badra Oil Field in Iraq
Gazprom Neft, the operator of the Badra oil field in Iraq, announces that deliveries of crude oil have started from the field to reservoirs of the Central Gathering Point (CGP). Two wells are currently producing oil at the deposit. Over the coming month, once the reservoirs have been filled, oil …
Lukoil Board of Directors Summarizes Company Preliminary Performance in 2013 and Sets Priorities for 2014
LUKOIL’s Board of Directors held a meeting in Moscow today to summarize the company’s preliminary performance results from 2013 and set priorities for 2014. The geologic exploration results prove that an increment of the recoverable hydrocarbon reserves in the amount of 130.2 million tons of reference fuel (93.5 million tons of liquid hydrocarbons and …