Tag Archives | Russia

Lukoil, Oil Minister, discuss prospects for Cooperation

The President of Lukoil, Vagit Alekperov (pictured), has met with Thamir Abbas Ghadhban Al Ghadhban, Deputy Prime Minister and Minister of Oil of the Republic of Iraq, at the St. Petersburg International Economic Forum. The parties discussed the progress of West Qurna-2 project and agreed to consider the possibility of early commissioning of Eridu field […]

Rosneft plans Geological Survey in Kurdistan in 2019

By John Lee. Russia’s Rosneft will reportedly conduct geological exploration in Iraqi Kurdistan this year. CEO Igor Sechin (pictured) is quoted as telling the annual general meeting: “The company continues to implement the project to develop fields in Iraqi Kurdistan in the Middle East, where a geological exploration program is scheduled for this year to […]

Has Russia begun to Play a Role in Iraq?

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Has Russia begun to play a role in Iraq? Member of the Iraqi parliament’s Security and Defense Committee Hakim al-Zamili announced May 9 that negotiations were underway to buy an S-400 air missile system from […]

Iraq, Russia sign New Agreements

By John Lee. Foreign Minister Mr. Mohamad A. Alhakim Head of the Iraqi side and Russian Deputy Prime Minister Mr. Yury Borisov Head of the Russian side, signed the joint meeting minutes of the eighth session of the joint Iraqi-Russian committee. They agreed to develop and enhance mutual cooperation in various productive and service sectors, as well […]

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West Qurna-2 hits 400,000 bpd

Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 barrels. Operator Lukoil said in a statement that, to manage the field’s production, it uses “the […]

Gazprom Neft expands Oil Production at Sarqala

Russia’s Gazprom Neft 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. […]

Lukoil CEO and Iraqi PM discuss Cooperation

By John Lee. The President of Lukoil, Vagit Alekperov, has held a meeting with Prime Minister of Iraq Adil Abdul-Mahdi in Baghdad. The meeting was attended by the Russian Ambassador to Iraq, Maksim Maksimov. The parties discussed the current status of projects, among them the geological exploration at Eridu field (Block 10) in the south […]

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 the current geological model of […]

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 […]

PM receives the Putin’s Special Envoy to MEA

By John Lee. Prime Minister Adil Abd Al-Mahdi has received the Russian President’s Special Envoy to the Middle East and Africa, the Deputy Foreign Minister of Russia and his accompanying delegation, Mr. Mikhail Bogdanov, who conveyed the greetings of the Russian President and the Russian Prime Minister to His Excellency, renewing the support of the […]

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, […]

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, […]