Tag Archives | West Qurna 2

Russian-Run Iraqi Oilfield may see Output Boost

Writing in Oil Price, Simon Watkins says Iraq's West Qurna 2 oilfield, run by Russian oil giant Lukoil, may see a quick increase in production from 400,000 barrels per day (bpd) to well over 600,000 bpd, rising to more than 1 million bpd further out. Click here to read the full article.

Block 10 More Attractive for Lukoil than West Qurna 2

Writing in Oil Price, Simon Watkins points out that the $5.99-per-barrel remuneration that Lukoil will receive under its technical service contract at Block 10 is considerably better than its $1.15/barrel payment at West Qurna 2. Block 10 includes the Eridu field, which has indicated oil reserves of between 7 and 12 billion barrels, and a […]

West Qurna-2 produces its One-Billionth Barrel of Oil

By John Lee. Iraq's West Qurna-2 oilfield has just produced its one-billionth barrel of oil. At a ceremony to mark the event, which was attended by Lukoil President Vagit Alekperov, Oil Minister Ihsan Abdul Jabbar said the field started with production of 220,000 bpd, rising to 400,000 bpd, with plans for peak production of 800,000 […]

Iraq tries to persuade Lukoil to stay at West Qurna

By John Lee. Oil Minister Ihsan Abdul Jabbar has reportedly told reporters that Iraq hopes LUKoil will keep its stake in the West Qurna-2 oil field. Russian news agency TASS quotes the Minister as saying that Iraq is "negotiating improvement of conditions" for the project. In  July, Lukoil Chief Executive Vagit Alekperov was quoted as saying […]

China to Snap Up Iraqi Oil Assets?

By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate […]

Lukoil paid over $60m to Iraqi Govt in 2020

By John Lee. Russian oil company Lukoil has published details of its payments made during the financial year ended 31 December 2020 in favor of the government of Iraq: The Dhi Qar Oil Company (DQOC) [Thiqar Oil Company] received 1,963 million Russian Rubles [$26.9 million] in respect of the Block 10 field; The General Commission […]

Increasing Oil Production at West Qurna 2

By John Lee. Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, has announced the start of experimental operations at the Yamamah reservoir in the West Qurna 2 oil field, with the aim of increasing output from the reservoir from 10,000 barrels per day (bpd) to 350,000 bpd. When fully implemented, the development would bring total production at […]

Iraq signs 4 Major Energy Deals with Total

By John Lee. Iraq's Ministry of Oil has signed an agreement of principles with the French company Total for four major energy projects in the country: Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include a Central Gas […]

Lukoil and Iraqi PM discuss Cooperation

The Prime Minister of Iraq, Mustafa Al-Kadhimi, and Iraqi Oil Minister Ihsan Abdul Jabbar Ismail, received a delegation from LUKOIL on Monday, headed by its President Vagit Alekperov (pictured). The meeting was also attended by the Russian Ambassador Maxim Maximov. The parties discussed the progress of the West Qurna-2 project and Eridu field (Block-10), as […]

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 […]