Russian oil firm Gazprom Neft has started production at the Badra oilfield in eastern Iraq.
Located in Wasit province, the Badra oil field has estimated geologic reserves of 3 billion barrels of oil.
Gazprom Neft said testing is underway at the central gathering station (CGS) of its crude oil processing system. The test programme will run for three months and the oilfield is anticipated to reach a planned production level of 15,000 barrels per day (bpd).
The CGS’s first line was built with a capacity of 60,000 bpd and the Badra field was linked to the 165km main Iraqi oil pipeline system in March. The oil field is expected to have a production capacity of 170,000 bpd by 2017.
Gazprom Neft first deputy CEO Vadim Yakovlev said that development at the Badra field is one of the company’s first international assets in oil production.
"We launched this project from scratch and over a short period of time have completed all of the complex work necessary for the industrial development of the Badra field," Yakovlev added.
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By GlobalData"The experience of being an operator on this project has further strengthened Gazprom Neft’s expertise, which will contribute to work on other new projects, for example in the Near East and other regions where the company is exploring opportunities for further development."
The company has a 30% interest in the field. The other shareholders include Korean Gas (KOGAS) with a 22.5% share, Petronas with a 15% stake and TPAO with a 7.5% interest. Iraqi Oil Exploration Company (OEC), owned by the Iraq Government, holds the remaining 25% stake in the oil field.
Image: The Badra oil field is located in Wasit Province in Eastern Iraq. Photo: courtesy of Gazprom Neft.
