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.