Badra currently produces 15,000-17,000 barrels of oil equivalent per day. “Stable production at this level has enabled the investors to start receiving compensation for the costs incurred, by obtaining part of the oil produced on the field,” Gazprom Neft said in a statement.
Gazprom Neft brought the field on line in 2013. In early 2015, the company finished constructing and testing a 165-kilometre pipeline connecting the Badra oilfield to infrastructure at the Gharraf oilfield. This development allows for transport of more than 200,000 barrels per day.
Gazprom Neft is the operator with a 30 percent stake. Its partners are South Korea’s Korgas (22.5 percent), Malaysia’s Petronas (15 percent) and Turkish TPAO (7.5 percent). The government of Iraq holds a 25-percent interest in the consortium, which won the licence in 2010.
Gazprom Neft’s subsidiary Gazprom Neft Middle East plans to conduct a geological survey in the northern Iraqi Halabja block to assess the area’s reserve potential.
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More
Oslo-listed Shelf Drilling has secured a contract for the Shelf Drilling Fortress jack-up rig with an undisclosed North Sea operator… Read More
This website uses cookies.