Russian oilfield services group ERIELL has signed a contract with LUKOIL Middle East to drill 25 production wells at the West Qurna-2 oilfield. “Company’s entry to the Iraq market marks the beginning of development of the Middle East region, which we deem extremely promising in terms of implementation of the ERIELL strategy of the contract portfolio […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Russian Landmarks Disappearing: In Iraqi Kurdistan, The End of an Era For Soviet-Made Road Warriors The Iraqi city of Kalar, south of Sulaymaniyah, has an odd nickname: “the Moscow of […]
By Simon Kent. Lukoil, the Russian energy giant with one of the biggest investments in southern Iraq at the vast West Qurna 2 oil field, have issued a statement in support of Iraq's move to split crude grades into Basra Heavy and Basra Light. Previously, different grades arrived at Basra for blending, which not only […]
By Robert Tollast. Russia's Gazprom Neft has announced that production at the Badra field in Wasit province is close to double last year's production, now reaching 28,000 bpd. Gazprom Neft's commercial production and exports at Badra started in September last year, after the company signed a contract to develop the field in January 2010, as […]
By John Lee. Reuters reports that oil production at the West Qurna II oilfield is currently running at around 402,000 barrels per day. The news agency quotes Lukoil Overseas senior vice president, Gati Al-Jebouri (pictured), as telling at a conference in London that output is expected to rise to 420,000 bpd by the end of […]
By John Lee. During his visit to Moscow, Prime Minister Haider Al-Abadi received the presidents of three major Russian oil and gas companies: Soyuzneftegaz group, Lukoil, and Gazprom. At the start of talks with Abadi in the Kremlin, Russian President Vladimir Putin said Russia is expanding cooperation with Iraq in the area of military technology, […]
Kurdistan Region Prime Minister Nechirvan Barzani has received a delegation from the Russian Federation that included President Vladimir Putin’s Envoy to the Middle East and Deputy Foreign Minister Mikhail Bogdanov, Chairman of Gazprom Neft, Alexander Dyukov, and Deputy Energy Minister, Yuri Sentyurin. The delegation highlighted historic relations between Kurdistan and Russia, and their intention to […]
By John Lee. The Iraqi Council of Ministers has approved the expenditure needed to drill 23 oil wells in the West Qurna area. The drilling had been recommended by the Economic Ministerial Committe, and is to be carried out by the South Oil Company (SOC) and the Russian company Lukoil. (Source: AIN) (Oil drilling image […]
By John Lee. Russian oil company Lukoil was asked to "sharply reduce" output at West Qurna-2 this year, reports Reuters. Ravil Maganov (pictured), head of the company's upstream division, told reporters: "We've got the letter to curb our enthusiasm ... We were restricted to 250,000 barrels per day (bpd) due to weather and level of […]
Gazprom Neft, the operator of the Badra field development project, has received the first batch of Kirkuk grade oil from the Iraqi government. The crude oil has been given to the company in compensation for its investment in the field development. 500 thousand barrels (about 70 thousand tonnes) of oil was delivered in the first […]
Russia's Bashneft has completed field seismic surveys at Block 12 as part of the geological exploration programme approved by the Iraqi Ministry of Oil. The Oil Exploration Company, an Iraqi company specializing in geological and geophysical exploration, which won the open tender in the spring of 2014, has been employed as a contractor to conduct […]
By John Lee. LUKoil President Vagit Alekperov had a meeting with Iraq’s Prime Minister, Haider al-Abadi, and the country’s Minister of Oil, Adel Abdul Mahdi, in Baghdad on March 22. The discussion focused on progress in the development of West Qurna-2 and the future of the field development. “Our company sticks to its plans to […]
