Badra Oilfield Now Exporting 15,000 Barrels per Day

Gazprom Neft confirmed Monday that during the 90 days to the end of November 2014 some 15,000 barrels per day were exported from Iraq's Badra oilfield to the country's main pipeline system.

Gazprom Neft, which operates the Badra field, said that it now expects the investors in the Badra consortium to be reimbursed for costs incurred and paid a fee of $5.5 per barrel of oil equivalent produced. SOMO (the Iraqi State Oil Marketing Organization) will deliver a share of oil from the Basra export terminal every month to the investor companies to reimburse their initial project costs, the firm added.

Currently, two wells are in production on the Badra field with a third having been drilled and tested and soon to be commissioned. A further six exploration wells are also currently being drilled.

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