Oil and Gas Fields: West Qurna 2

Name: West Qurna 2

Controlled by: Ministry of Oil (Baghdad).

Location: Around 65 km NW of the city of Basra.

Discovery:  1973

Reserves:  13 billion barrels of oil

Quality:  21.3°API Gravity.

Developed by: Lukoil (75%), South Oil Company (25%)

Contract granted: 2009

Contract duration:  25 years.

Remuneration: $1.15 per barrel of oil from a production level of above 120,000 bpd

Plateau production target: 1.8 million bpd (or 800,000 barrels per day in 2025 according to a Lukoil statement in April 2019)

Other companies involved in the development: Cannon Artes, SICIM

For latest news on the project please click here.

A full list of oil and gas fields controlled by the Ministry of Oil in Baghdad can be found here.