Lukoil signs new development plan for West Qurna-2 field
Published by Laura Dean,
Deputy Editor
Oilfield Technology,
LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 000 bpd. According to the Plan, the oil production of 480 000 bpd will be reached in 2020 and 800 000 bpd is expected in 2025.
These indicators will be achieved as a result of drilling and commissioning of new production and injection wells, construction and launching of oil treatment, storage and transportation facilities and facilities for gas treatment and power generation.
The experience acquired by the Company in the region, the existing infrastructure and cost compensation within the project development from the current production will ensure maximum efficiency of the project implementation.
The parties noted that due to the agreements reached, LUKOIL will remain one of the largest investors and employers in Iraq in the coming years.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/14052018/lukoil-signs-new-development-plan-for-west-qurna-2-field/
You might also like
Wood Mackenzie: six-country international shale priority list for energy security as Middle East conflict drives supply diversification
Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”.