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Russia's Gazprom Neft started oil production from Badra oilfield of Iraq

Oil ministry of Iraq reported on last Wednesday that Russia's Gazprom Neft, the oil arm of state-run Gazprom, has commenced first stage of oil production from the Badra oilfield of Iraq.
Production from Badra started on Monday at an average of 15,000 barrels per day and is expected to reach 170,000 bpd of crude oil by 2017, the ministry said in a statement.

Official spokesperson for oil ministry of Iraq, Mr. Asheem Jihad mentioned, "Oil flow from Badra has started on Monday to fill the oilfield storages in preparing to feed the export."
The oilfield is located in the Wasit Province in eastern Iraq with an estimated 3 billion barrels of oil in reserve. The Russian company submitted a tender in December 2009 and signed a contract with the government in January 2010 to develop the field.

Iraq’s oil minister, Abdul Kareem Luaibi reported last week that other parts of the country would not cease its southern oil facilities. He also remarked that the current daily production is running at 3.15 million bpd.

Updated 25 Jul 2014 | Soruce: Reuters | By S.Seal
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