Lukoil Launches Production at West Qurna-2

Russia's Lukoil officially launched production at the giant West Qurna-2 oilfield in Iraq on Saturday. The firm’s president, Vagit Alekperov, announced during the launch ceremony that a target production level of 120,000 barrels per day from the field was reached on March 28.

The launch ceremony was also attended by Deputy Prime Minister of Iraq Hussain al-Shahristani and Russian Deputy Prime Minister Arkady Dvorkovich, as well as members of the Iraqi government, Basra province authorities and representatives of major contractors.

The service contract between Lukoil and the Iraqi government requires that the 120,000 bpd production level must be maintained for 90 days before the firm begins to receive a return on its investment.

West Qurna-2 – one of the largest oil fields in the world – is located in southern Iraq, around 40 miles from the town of Basra. Lukoil estimates the field has 35 billion barrels of oil reserves in two main formations: Mishrif and Yamama.
The project is being implemented in three phases: Mishrif Early Oil (with a target production level of up to 400,000 bpd), Mishrif Full Field Development (up to 550,000 bpd) and Yamama Formation Development (up to 1.2 million barrels per day). The production plateau will then be maintained at 1.2 million bpd for 19.5 years.

Lukoil's Alekperov commented in a company statement:

"The start of production at West Qurna-2 is strategically important for Lukoil. Starting up the field on a tight schedule and reaching the target production level underscores Lukoil's ability to independently and efficiently manage the implementation of complex large-scale projects and reinforces our position as a global energy company."


Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  ExxonMobil Starts Fuels Production at ... (Sep 21)
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)

Most Popular Articles

From the Career Center
Jobs that may interest you
Nitrogen Operator
Expertise: Maintenance Technician|Production Operator|Truck / HGV Driver
Location: Odessa, TX
Slickline and E-Line Operators, Location: Rosharon, TX
Expertise: Production Operator|Slickline|Wireline
Location: Rosharon, TX
United States Prudhoe Bay: Operator Assistant I to Service Operator I- Ceme
Expertise: Cementing|Production Operator
Location: Prudhoe Bay, AK
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours