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Lukoil signed a supplementary agreement with state-owned Basra Oil Co. to extend the oil service contract for West Qurna 2 field in Iraq by 10 years to 2045 and to double oil production to 800,000 b/d, Lukoil said in a release.
The field development plan envisages bringing new multi-well pads into production, commissioning oil treatment infrastructure and complex gas treatment plants for the Yamama formation, construction of export pipelines and water flooding units, as well as expansion of the tank battery.
West Qurna-2 lies 65 km northwest of Basra in southern Iraq. The license area covers about 300 sq km. Initial recoverable reserves at the field, which delivers 9% of Iraqi total oil production, are estimated at 14 billion bbl. More than 90% of the reserves are concentrated in Mishrif and Yamama accumulations.
Lukoil concluded a service agreement in December of 2009, commenced commercial production of oil from the Mishrif formation in 2014, and implemented a new development plan in 2018. It is the operator of West Qurna-2 (75%) with state-owned North Oil Co. holding the remaining 25%.
