Tag Archives | Block 10

Oil Discovered at Block 10

By John Lee. Russia's Lukoil and Japan's Inpex have successfully completed the testing of the first exploratory well, Eridu 1, at Block 10 in Basra governorate. The well recorded a daily flow rate of more than 1,000 cubic meters of sweet oil from Mishrif horizon, confirming geological expectations of a large hydrocarbon field presence within […]

LUKoil Seeks more Compensation Oil

By John Lee. LUKoil boss Vagit Alekperov (pictured) has reportedly threatened to cut investment in Iraq unless Baghdad offers more oil in return. The Iraqi government reimburses IOCs' costs in physical shipments of oil. LUKoil is a partner in the West Qurna-2 project, and in the development of Block 10. (Source: Reuters)

Lukoil Completes Seismic Survey at Block 10

LUKOIL has finished its 2D seismic survey at Block 10 in southern Iraq. The seismic survey began in April 2014 and covered 2,000 linear kilometers. It was completed according to the highest standards six months ahead of schedule. The acquired seismic data will be processed and interpreted to identify promising sites for exploration drilling. The […]

Lukoil discusses Investment in Iraq

By John Lee. Lukoil President Vagit Alekperov has said that his company has invested $6 billion dollars so far on operations in Iraq. At a meeting with Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] in Baghdad, Alekperov said: "Lukoil is now working on geological exploration projects with other foreign companies in the 10th exploratory area […]

LUKOIL begins Seismic Survey at Block 10

LUKOIL has started a 2D seismic survey at Block 10 in the south of Iraq. 2000 linear kilometers of seismic surveys will be completed by the BGP Inc. geophysical company within 16 months. The Mandatory Geologic Exploration Program at Block 10 is scheduled to take five years with a potential 2-year extension and includes drilling […]

Maliki Discusses Projects with LUKoil

By John Lee. Russian oil company LUKoil has announced that its President, Vagit Alekperov (pictured), held talks in Moscow on Sunday with Iraqi Prime Minister, Nouri al-Maliki, and Iraqi Oil Minister, Abdul Karim Luaibi [Elaibi]. The parties discussed the progress of the West Qurna-2 development project, the company’s plans to develop Block-10, and other possible projects […]

Iraq Signs Oil Exploration Deal with Lukoil, Inpex

Iraq has signed a deal with Russia's LUKoil, and Inpex Corp of Japan, to explore the 5,500-square-kilometer (2,100 square mile) Block 10 in Muthanna and Dhi Qar province. Under the contract, the two firms must invest at least $100 million and will be paid $5.99 for each barrel of oil equivalent it finds. "This contract represents […]

Iraq Approves LUKoil Development

Reuters reports that the Iraqi government has approved the exploration, development and production contract for Block 10 in the south of the country. Russia's LUKoil, which already has an interest in the giant West Qurna-2 oilfield, won the deal for the 5,500-square-kilometer Block 10 in Muthanna and Dhi Qar provinces in Iraq's 4th round energy […]

Cabinet Approves 3 Energy Deals, Delays 1

By John Lee. Iraq's cabinet has approved three oil and gas contracts awarded to foreign firms in the 4th round energy auction in May. Government spokesman Ali al-Dabbagh (pictured) said cabinet approved an initial gas exploration contract with Pakistan Petroleum for gas Block 8, another deal led by Russia's Lukoil along with Inpex of Japan […]

Iraq Signs Energy Exploration Contracts

By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]