Tag Archives | LUKoil

Lukoil Drills New Production Wells at West Qurna-2

Russian oil company Lukoil has commenced drilling of new production wells at West Qurna-2 field as part of the second development phase. The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation. The drilling campaign will ramp up production at West […]

Tags: , , , , , ,

Russia wants More Projects with Iraq

By John Lee. Russian Foreign Minister Sergey Lavrov has said that Moscow is very interested in increasing trade, economic and investment ties with Iraq. Following a meeting on Wednesday with Iraqi Foreign Minister Mohamed Ali Alhakim, he said: “In the field of investment, especially in the hydrocarbon sector, there is a very good result. Lukoil, […]

Tags: , , , , ,

Lukoil confirms Geological Model for Eridu Field

Russia’s Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. ​ Lukoil continues geological exploration at Block 10. For instance, […]

Tags: , , , , , , , ,

Oil Production to Start at Block 10 in 2021

By John Lee. Russia’s Lukoil will start production at Block 10 in 2021, according to a report from Platts. The Chinese company Bohai has started to drill the 4th well at the block in southern Iraq. In February 2017 Lukoil announced Iraq’s largest discovery of oil for twenty years at the Eridu field in Block 10, […]

Tags: , , , , , , , ,

SNC-Lavalin awarded West Qurna 2 Contract

Canadian-based SNC-Lavalin (TSX:SNC) has announce that it has been awarded a framework agreement for project support services with LUKOIL Mid-East for the West Qurna phase 2 oil field in Iraq. Christian Brown (pictured), President, Oil & Gas, SNC-Lavalin, said: “We continue to build on our long-term relationship with LUKOIL and to help them realize their […]

Tags: , , , , ,

New Tenders for Development of West Qurna-2

By John Lee. Russian oil company Lukoil has published tenders for two projects at its West Qurna-2 oilfield: Decentralised Water Injection Facilities – click here for more information; Gas Turbine Power Plant Expansion – click here for more information. Interested companies have until 23rd July to apply for documents, and bids will be accepted until […]

Tags: , , , ,

New Development Plan for West Qurna-2

LUKOIL and the Basra Oil Company (BOC) signed a Development Plan for the West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected […]

Tags: , , , ,

Iraq Awards New Oilfield Licences: FULL LIST

By John Lee. Iraq’s Ministy of Oil has awarded all four development projects, and two of the seven exploration blocks, that it offered in its fifth auction of oil licences. Only nine of the 26 companies originally pre-qualified took part in the auction, with majors such as Lukoil (Russia), ExxonMobil (US) and Total (France) not bidding. Development […]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Lukoil reports Less Compensation Oil from West Qurna-2

By John Lee. Russian oil company Lukoil has said that lower volumes of compensation crude oil from the West Qurna-2 project in Iraq had “a negative impact on EBITDA dynamics“. In its audited consolidated financial statements for the full year of 2017, it added that net of this project, EBITDA increased in 2017 by 17.8 […]

Tags: , , ,

Oil Minister meets with the CEO of Lukoil

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has met with Kati Al-Juboori, the CEO of Russia’s Lukoil, and his entourage. During the meeting the two parties discussed ways to develop the oil sector in Iraq. Mr. Al-Juboori praised the keenness of the Ministry of Oil to cooperate with global companies and provide […]

Tags: , ,

Lukoil signs Contract for Exploration at Block 10

Russia’s Lukoil has signed contracts with the state-owned Iraqi Oil Exploration Company to carry out seismic surveys at the Eridu field in Block 10, and also at Block 10’s southern and central parts, previously not part of the survey. The scope of appraisal works at Eridu field includes a 3D seismic survey of 983 square kilometers to […]

Tags: , , , , , , , , , ,

Lukoil to submit West Qurna-2 Plan by end-Dec

By John Lee. Russian oil company Lukoil has said it will present its plans t0 develop the West Qurna 2 oil field to the Ministry of Oil by the end of the month. Company boss Vagit Alekperov (pictured) told reporters that his company is negotiating regarding production volumes, timelines, and investment. (Source: TASS)

Tags: , , ,