The Russian Gasprom Oil Company has began implementing the 1st phase of southeastern Iraq’s Badra oil field in Wassit [Wasit] Province, the Province’s Media director said on Sunday, according to Aswat al-Iraq.
“Gazprom’s team charged with executing the Badra oil field, 90 km to the east of Kut, has began the first phase of implementing the project,” Majid al-Itaby told the agency.
He said the first phase of the project has covered the ending of the engineering plans and the geological survey, to extract oil at the beginning of next year.
“Iraq’s South Oil Company had signed a contract with four international oil companies -- the Russian Gazprom, Turkish TPO, Korean Kogas and the Malaysian Petronas -- to develop the Badra oil field for U.S.$100 millions,” Itaby said, adding that the Company would extract oil from a 170 square km area in Badra township.
(Source: Aswat al-Iraq)