By John Lee. Investment by Russian oil and gas companies in Iraq may increase three-fold, according to a report by Tass. It quotes Russian politician Yury Fedorov [Nikolay Vasilyevich Fyodorov] as telling the Iraqi Ambassador to Russia, Abdul-Rahman Al-Husseini, that the total investment in Iraq by companies such as Lukoil, Bashneft and Gazprom Neft has […]
Tag Archives | LUKoil
Tags: Bashneft, featured, Gazprom Neft, LUKoil, mn, Rosneft, Rosneftegaz, Russia, Tatneft, Zarubezhneft
The Future of Iraq’s Oil Is Russian
By Vera Mironova and Mohammed Hussein, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. With ongoing protests making other investors nervous, Moscow is charging ahead. Despite ongoing protests in Baghdad, which have seen the departure of many foreign diplomats for […]
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 […]
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 […]
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 […]
Russia wants More Projects with Iraq
By Editor on 31st January 2019 in Agriculture, Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Iraq Education and Training News, Iraq Industry & Trade News, Iraq Oil & Gas News
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, […]
Tags: Block 10, Dhi Qar Oil Company, Dhi Qar Oil Company (DQOC), Eridu field, featured, Inpex, Japan, LUKoil, Russia
Oil Production to Start at Block 10 in 2021
By John Lee. Russia’s Lukoil will start production at Block 10 in 2021, according to a report from Platts. The Chinese company Bohai has started to drill the 4th well at the block in southern Iraq. In February 2017 Lukoil announced Iraq’s largest discovery of oil for twenty years at the Eridu field in Block 10, […]
Tags: Block 10, Bohai, China, drilling, Eridu field, featured, Iraq Oil Production News, LUKoil, Russia
SNC-Lavalin awarded West Qurna 2 Contract
Canadian-based SNC-Lavalin (TSX:SNC) has announce that it has been awarded a framework agreement for project support services with LUKOIL Mid-East for the West Qurna phase 2 oil field in Iraq. Christian Brown (pictured), President, Oil & Gas, SNC-Lavalin, said: “We continue to build on our long-term relationship with LUKOIL and to help them realize their […]
New Tenders for Development of West Qurna-2
By John Lee. Russian oil company Lukoil has published tenders for two projects at its West Qurna-2 oilfield: Decentralised Water Injection Facilities – click here for more information; Gas Turbine Power Plant Expansion – click here for more information. Interested companies have until 23rd July to apply for documents, and bids will be accepted until […]