Category: LUKoil

Posted on

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 (Block 10). The Minister of Oil of Iraq expressed the support of Lukoil’s initiatives aiming at development of Iraqi projects, fulfilling obligations under the Service Contracts.

The parties have also expressed their interest to consider gas ​processing and petrochemical projects in Iraq.

(Source: Lukoil)

Posted on

West Qurna-2 hits 400,000 bpd

Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project.

With 184 wells drilled at the field, the average daily production rate is 400,000 barrels.

Operator Lukoil said in a statement that, to manage the field’s production, it uses “the intelligent field concept which allows to control and adjust where necessary the production indicators in real-time.”

In 2018, the company started Phase 2 of the field’s development which envisages  growth in daily production to 480,000 barrels in 2020 and to a plateau of 800,000 barrels per day in 2025.

In January 2019, the drilling of 28 wells began on well pad #4. As of today, contracts have been signed to drill 57 production wells, including 54 at the Mishrif and 3 at the Yamama formations.

(Source: Lukoil)

Posted on

Lukoil CEO and Iraqi PM discuss Cooperation

By John Lee.

The President of Lukoil, Vagit Alekperov, has held a meeting with Prime Minister of Iraq Adil Abdul-Mahdi in Baghdad.

The meeting was attended by the Russian Ambassador to Iraq, Maksim Maksimov.

The parties discussed the current status of projects, among them the geological exploration at Eridu field (Block 10) in the south of Iraq.

Mr. Abdul-Mahdi expressed his support for the intention to deliver first production at Eridu field ahead of time.

(Source: Lukoil)

Posted on

Successful Appraisal Drilling at Eridu Field in Iraq

Lukoil and Inpex Corporation have successfully completed testing of the fifth well as part of the appraisal phase at the Eridu field (Block 10) in the southern part of Iraq.

The well recorded daily flow rate of more than 1,500 cubic meters of oil from the Mishrif formation and proved the current geological model of the Eridu field as effective.

Lukoil continues geological exploration at Block 10. For instance, in the mid-term the Company plans to drill and test several appraisal wells, complete 3D seismic surveys at the Eridu field and 2D seismic surveys at the block’s southern and central parts.

(Source: Lukoil)

Posted on

Lukoil Drills New Production Wells at West Qurna-2

Russian oil company Lukoil has commenced drilling of new production wells at West Qurna-2 field as part of the second development phase.

The company has so far concluded contracts to drill 57 production wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation.

The drilling campaign will ramp up production at West Qurna-2 from the current level of 400 thousand barrels per day to 480 thousand barrels per day in 2020.

To deliver the project Lukoil uses an approach to cluster drilling which envisages erection of two drilling rigs at one well pad.

This approach is new for Iraq and will provide for significant field development speed up and production growth within the shortest time.

Over five hundred Iraqis, residing in proximity to West Qurna-2 field, will be employed for the drilling campaign.

(Source: Lukoil)

Posted on

Russia want More Projects with Iraq

By John Lee.

Russian Foreign Minister Sergey Lavrov has said that Moscow is very interested in increasing trade, economic and investment ties with Iraq.

Following a meeting on Wednesday with Iraqi Foreign Minister Mohamed Ali Alhakim, he said:

“In the field of investment, especially in the hydrocarbon sector, there is a very good result. Lukoil, Gazprom Neft, SoyuzNefteGaz are already working, Rosneft is interested in projects in Iraq. The total investment in this industry has already exceeded $ 10 billion.

“We want to promote projects in other areas. Today we talked about electricity, agriculture, industry, transport – all this will be considered in the context of preparations for the next meeting of the Russian-Iraqi Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.“

He added that about 4 thousand Iraqi citizens are currently studying in universities of the Russian Federation, while dozens of diplomats from Iraq take part in special training courses at the Diplomatic Academy at the Russian Foreign Ministry.

(Source: Russian Ministry of Foreign Affairs)

Posted on

Lukoil confirms Geological Model for Eridu Field

Russia’s Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq.

The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. ​

Lukoil continues geological exploration at Block 10. For instance, the company plans to drill and test several appraisal wells and to complete 3D and 2D seismic surveys for Eridu field and the block’s southern and central parts, respectively.

Block 10, covering 5.8 thousand square kilometers, is located 150 kilometers west of Basra, 120 kilometers away from West Qurna-2 field.

Interests in the project: Lukoil – 60% (operator), Inpex Corporation (Japan) – 40%. The Iraqi party to the agreement is represented by the state-owned Dhi Qar Oil Company (DQOC).

(Source: Lukoil)

Posted on

Oil Production to Start at Block 10 in 2021

By John Lee.

Russia’s Lukoil will start production at Block 10 in 2021, according to a report from Platts.

The Chinese company Bohai has started to drill the 4th well at the block in southern Iraq.

In February 2017 Lukoil announced Iraq’s largest discovery of oil for twenty years at the Eridu field in Block 10, with recoverable reserves in excess of 2.5 billion barrels of crude.

(Source: Platts)

(Picture: Seismic Survey at Block 10)

Posted on

SNC-Lavalin awarded West Qurna 2 Contract

Canadian-based SNC-Lavalin (TSX:SNC) has announce that it has been awarded a framework agreement for project support services with LUKOIL Mid-East for the West Qurna phase 2 oil field in Iraq.

Christian Brown (pictured), President, Oil & Gas, SNC-Lavalin, said:

“We continue to build on our long-term relationship with LUKOIL and to help them realize their projects successfully.”

SNC-Lavalin’s scope will include the provision of engineering, design activities and project support services for the development of the Mishrif and Yamama formations of the West Qurna 2 oil field, as well as training and continued professional development for local Iraqi professionals.

The project will be executed in country at the West Qurna phase 2 oil field, as well as from the UAE.

The West Qurna Phase 2 oil field is located in the southern part of Iraq, 65 kilometers north-west of Basra, a major seaport city, and is one of the world’s largest fields. West Qurna Phase 2 is split into three main phases, two phases for the Mishrif formation and one for the Yamama formation.

The required surface facilities for Yamama and Mishrif include major elements such as well pads, oil gathering flowlines, headers and trunklines, a central processing facility and its associated utilities and offsites, oil/gas/liquid petroleum gas export pipelines, additional storage tanks at an existing facility, power plant, water intake and supply pipelines.

(Source: SNC Lavalin)