Russia's Gazprom Neft Says Starts Oil Output in Iraq



Reuters

MOSCOW, June 2 (Reuters) – Russia's Gazprom Neft, the oil arm of natural gas producer Gazprom, said on Monday it has started oil production at the Badra field in Iraq.

The company hopes production at the field, in the eastern Wasit province, will reach 15,000 barrels per day later this year when the necessary infrastructure is expected to be in place.

Production is expected to reach a peak of 170,000 barrels per day (around 8.5 million tonnes per year) in 2017 and then remain stable for seven years, the company said.

(Reporting by Katya Golubkova and Vladimir Soldatkin, Editibng by Timothy Heritage)



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